{"id":8843,"date":"2019-12-27T06:00:43","date_gmt":"2019-12-27T06:00:43","guid":{"rendered":"http:\/\/itatonline.org\/digest\/cit-v-oberon-edifices-estates-p-ltd-2019-267-taxman-118-ker-hc\/"},"modified":"2020-01-19T07:37:26","modified_gmt":"2020-01-19T07:37:26","slug":"cit-v-oberon-edifices-estates-p-ltd-2019-267-taxman-118-ker-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-oberon-edifices-estates-p-ltd-2019-267-taxman-118-ker-hc\/","title":{"rendered":"CIT  v. Oberon Edifices &#038; Estates (P.) Ltd. (2019) 267 taxman 118\/311 CTR  815 \/ 184 DTR 56   (Ker.)(HC)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Court held that; assessee\u00a0 which is engaged\u00a0 in the business of construction\u00a0 and sale of residential and commercial building complexes expenditure for completing its construction during financial year subsequent to sale of building, such expenditure was liable for deduction. Court held that\u00a0 in order to claim deduction of business expenditure, it is not necessary that amount has been actually paid or expended during relevant accounting year itself and it is sufficient that liability for payment had incurred or accrued during relevant accounting year and actual payment of amount or discharge of liability may occur in future. (AY. 2009-10)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1) : Business expenditure\u2013Construction business\u2013 Expenditure incurred subsequent  sale of building\u2013Held to be allowable as revenue expenditure. [S. 145]<\/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-8843","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2iD","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8843","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=8843"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8843\/revisions"}],"predecessor-version":[{"id":9250,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/8843\/revisions\/9250"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=8843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=8843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=8843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}