{"id":8593,"date":"2019-12-18T11:15:24","date_gmt":"2019-12-18T11:15:24","guid":{"rendered":"http:\/\/itatonline.org\/digest\/crescent-realtors-p-ltd-v-dy-cit-2019-72-itr-57-sn-mum-trib-2\/"},"modified":"2019-12-18T11:15:24","modified_gmt":"2019-12-18T11:15:24","slug":"crescent-realtors-p-ltd-v-dy-cit-2019-72-itr-57-sn-mum-trib-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/crescent-realtors-p-ltd-v-dy-cit-2019-72-itr-57-sn-mum-trib-2\/","title":{"rendered":"Crescent Realtors P.  Ltd.  v.  Dy.  CIT (2019) 72 ITR 57  (SN) (Mum.) (Trib.)"},"content":{"rendered":"<p>Assessee has claimed the pre-operative expense as cost of improvement being related to transfer of property. \u00a0However, AO disallowed the same stating that the same is not related to transfer of property. \u00a0CIT(A) upheld the action of AO. \u00a0Tribunal thus disallowed pre-operative expenditure stating, as it was not in connection with transfer of property but was routine expenditure related to assessee\u2019s business, thus, it could not be treated as expense incurred in relation to the sale of property. The issue of payment of brokerage and professional fees, the Tribunal restored the matter back to the AO to allow the assessee to furnish supporting evidence. \u00a0(AY. \u00a02010-11)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 48 : Capital gains\u2013Computation-Pre-operative expenditure-Not related to transfer of property-related to regular business of assessee\u2013Not allowable as deduction\u2013Brokerage and professional fees\u2013Matter remanded [S. 45]<\/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-8593","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2eB","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8593","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=8593"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8593\/revisions"}],"predecessor-version":[{"id":8594,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8593\/revisions\/8594"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=8593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=8593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=8593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}