{"id":6774,"date":"2019-08-26T12:40:28","date_gmt":"2019-08-26T12:40:28","guid":{"rendered":"http:\/\/itatonline.org\/digest\/pcit-v-state-fisheries-development-corporation-ltd-2019-414-itr-443-calhc-editorial-pcit-v-state-fisheries-development-corporation-ltd-2019-411-itr-4-st\/"},"modified":"2019-08-26T12:40:28","modified_gmt":"2019-08-26T12:40:28","slug":"pcit-v-state-fisheries-development-corporation-ltd-2019-414-itr-443-calhc-editorial-pcit-v-state-fisheries-development-corporation-ltd-2019-411-itr-4-st","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-state-fisheries-development-corporation-ltd-2019-414-itr-443-calhc-editorial-pcit-v-state-fisheries-development-corporation-ltd-2019-411-itr-4-st\/","title":{"rendered":"PCIT  v. State Fisheries Development Corporation Ltd. (2019) 414 ITR 443 (Cal)(HC)  Editorial: PCIT  v. State Fisheries Development Corporation Ltd. ( 2019) 411 ITR 4 (St)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Court held that the amount received by the assessee from the State Government in the form of grant-in-aid utilised for clearing the salary and provident fund dues and flood relief was capital in nature.\u00a0 There was no separate business consideration on record between the grantor-State Government and the recipient-assessee. Since flood relief did not constitute part of the business of the assessee, the funds extended for flood relief could not constitute revenue receipt. (AY.2006 -07)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 4 : Charge of income-tax\u2013Capital or revenue-Grant in  aide\u2013 Disbursement of salaries and flood relief-Protect the functioning of the assessee-Held to be capital receipt. [S. 28(i)]<\/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-6774","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1Lg","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6774","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=6774"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6774\/revisions"}],"predecessor-version":[{"id":6775,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6774\/revisions\/6775"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=6774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=6774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=6774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}