{"id":8555,"date":"2019-12-17T12:31:57","date_gmt":"2019-12-17T12:31:57","guid":{"rendered":"http:\/\/itatonline.org\/digest\/dy-cit-v-ppfas-asset-management-p-ltd-2019-72-itr-41-sn-mum-trib\/"},"modified":"2019-12-17T12:31:57","modified_gmt":"2019-12-17T12:31:57","slug":"dy-cit-v-ppfas-asset-management-p-ltd-2019-72-itr-41-sn-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/dy-cit-v-ppfas-asset-management-p-ltd-2019-72-itr-41-sn-mum-trib\/","title":{"rendered":"Dy.  CIT v.  PPFAS Asset Management P.  Ltd.  (2019) 72 ITR 41 (SN) (Mum.)(Trib.)"},"content":{"rendered":"<p>When the assessee has received approval from SEBI to act as an Asset Management Company then it can be said to have set up its business and even though it has not actually commenced its business all business expenses incurred by it are allowable\u00a0 because its business has been set up. (AY. \u00a0\u00a02013-2014)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1) : Business expenditure\u2013Asset management company\u2013Set up of business-Approval from SEBI\u2013Expenditure is allowable though it had not actually commenced its business.   [S. 2(13 )]<\/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-8555","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2dZ","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8555","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=8555"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8555\/revisions"}],"predecessor-version":[{"id":8556,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8555\/revisions\/8556"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=8555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=8555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=8555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}