{"id":788,"date":"2018-05-12T03:18:24","date_gmt":"2018-05-12T03:18:24","guid":{"rendered":"http:\/\/itatonline.org\/digest\/pcit-v-yes-power-and-infrastructure-pvt-ltd-bom-hc-2018-bcaj-may-63\/"},"modified":"2018-05-12T03:18:24","modified_gmt":"2018-05-12T03:18:24","slug":"pcit-v-yes-power-and-infrastructure-pvt-ltd-bom-hc-2018-bcaj-may-63","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-yes-power-and-infrastructure-pvt-ltd-bom-hc-2018-bcaj-may-63\/","title":{"rendered":"PCIT v. Yes Power and Infrastructure Pvt Ltd (Bom) (HC) ( 2018) BCAJ -May. 63"},"content":{"rendered":"<p>Dismissing the appeal of the revenue , the Court held that , Rejection of accounts was held to be not justified on the basis that the goods are sold at the price lower than the market price or purchase price \u2013 Law cannot oblige or compel a trader to make or maximise its profits . Relied CIT v. A.Raman &#038; Co  ( 1968) 67  ITR 11 (SC)  S.A .Builders Ltd v .CIT ( 2006) 288 ITR 1 ( SC) .  ( ITA No. 813 of 2015 dt. 20-02-2018) ( AY. 2005 -06)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 145 : Method of accounting -Rejection of accounts was held to be not justified on the basis that the goods are sold at the price lower than the market price or purchase price \u2013 Law cannot oblige or compel a trader to make or maximise its profits [ S.145(3)]<\/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-788","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-cI","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/788","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=788"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/788\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}