{"id":6312,"date":"2019-08-10T10:05:37","date_gmt":"2019-08-10T10:05:37","guid":{"rendered":"http:\/\/itatonline.org\/digest\/ito-osd-v-shrine-vailankanni-senior-secondary-school-2019-70-itr-345-chennaitrib\/"},"modified":"2019-08-10T10:05:37","modified_gmt":"2019-08-10T10:05:37","slug":"ito-osd-v-shrine-vailankanni-senior-secondary-school-2019-70-itr-345-chennaitrib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/ito-osd-v-shrine-vailankanni-senior-secondary-school-2019-70-itr-345-chennaitrib\/","title":{"rendered":"ITO  (OSD)  v. Shrine Vailankanni Senior Secondary School  (2019) 70 ITR 345 (Chennai)(Trib.)"},"content":{"rendered":"<p>Advancing money for acquiring land and construction of building. Delay in execution of sale deed. Advance of money to employee trust. There is no violation. Denial of exemption is held to be not valid. The assessee was entitled to claim the cost of the asset as application of income under section\u00a011. The assessee was eligible for depreciation under section\u00a032\u00a0even though the cost of asset was allowed as application of income. (AY. 2011-12, 2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 13 : Denial of exemption-Trust or institution-Investment restrictions\u2013Advancing money for acquiring land and construction of building\u2013Delay in execution of sale deed-Advance of money to employee trust-No violation-Denial of exemption is held to be not valid\u2013Application of income-entitle to depreciation  though the cost of asset was allowed as application of income. [S. 11, 12AA, 13(1)(d), 32]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6312","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1DO","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6312","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=6312"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6312\/revisions"}],"predecessor-version":[{"id":6313,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6312\/revisions\/6313"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=6312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=6312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=6312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}