{"id":8028,"date":"2019-11-02T07:45:05","date_gmt":"2019-11-02T07:45:05","guid":{"rendered":"http:\/\/itatonline.org\/digest\/pcit-v-punjab-and-sind-bank-2019-108-taxmann-com-351-265-taxman-538-delhi-hc-editorial-slp-of-revenue-is-dismissed-pcit-v-punjab-and-sind-bank-2019-265-taxman-537-sc\/"},"modified":"2019-11-02T07:45:05","modified_gmt":"2019-11-02T07:45:05","slug":"pcit-v-punjab-and-sind-bank-2019-108-taxmann-com-351-265-taxman-538-delhi-hc-editorial-slp-of-revenue-is-dismissed-pcit-v-punjab-and-sind-bank-2019-265-taxman-537-sc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-punjab-and-sind-bank-2019-108-taxmann-com-351-265-taxman-538-delhi-hc-editorial-slp-of-revenue-is-dismissed-pcit-v-punjab-and-sind-bank-2019-265-taxman-537-sc\/","title":{"rendered":"PCIT  v. Punjab and Sind Bank. (2019) 108 taxmann.com 351 \/ 265 Taxman 538 ( Delhi) (HC)   Editorial: SLP of revenue is dismissed, PCIT  v. Punjab and Sind Bank. (2019) 265 Taxman 537 (SC)"},"content":{"rendered":"<p>AO initiated reassessment proceedings on ground that there was change of accounting method in respect of Non-Performing Assets (&#8216;NPAs&#8217;)-Tribunal found that assessee had made full and true disclosure of all material facts regarding change in method of accounting at time of assessment.\u00a0 Tribunal thus taking a view that precondition stipulated in first proviso to section 147 was not satisfied, set aside reassessment proceedings.\u00a0 High Court upheld order passed by Tribunal. (AY. 2006-07)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 147 : Reassessment\u2013Method of accounting-Full and true disclosure of all material facts regarding change in method of accounting in respect of Non-Performing Assets (NPAs) at time of assessment itself-Reassessment is held to be  bad in law. [S. 145, 148]<\/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-8028","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-25u","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8028","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=8028"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8028\/revisions"}],"predecessor-version":[{"id":8029,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8028\/revisions\/8029"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=8028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=8028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=8028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}