{"id":9874,"date":"2020-02-18T11:21:27","date_gmt":"2020-02-18T11:21:27","guid":{"rendered":"http:\/\/itatonline.org\/digest\/manipal-sowbhagya-nidhi-ltd-v-dy-cit-2019-112-taxman-com-325-2020-268-taxman-330-karn-hc-editorial-slp-of-revenue-is-dismissed-dy-cit-v-manipal-sowbhagya-nidhi-ltd-2020-268-taxman-329\/"},"modified":"2020-02-18T11:21:27","modified_gmt":"2020-02-18T11:21:27","slug":"manipal-sowbhagya-nidhi-ltd-v-dy-cit-2019-112-taxman-com-325-2020-268-taxman-330-karn-hc-editorial-slp-of-revenue-is-dismissed-dy-cit-v-manipal-sowbhagya-nidhi-ltd-2020-268-taxman-329","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/manipal-sowbhagya-nidhi-ltd-v-dy-cit-2019-112-taxman-com-325-2020-268-taxman-330-karn-hc-editorial-slp-of-revenue-is-dismissed-dy-cit-v-manipal-sowbhagya-nidhi-ltd-2020-268-taxman-329\/","title":{"rendered":"Manipal Sowbhagya Nidhi Ltd. v. Dy.CIT (2019) 112 Taxman.com 325 \/ (2020) 268 Taxman 330 (Karn.)(HC) Editorial: SLP of revenue is dismissed Dy CIT v Manipal Sowbhagya Nidhi Ltd (2020) 268 Taxman 329 (SC)"},"content":{"rendered":"<p>The assesse is carrying on the business of\u00a0 accepting deposits from members and lending the same to non members. The assessee treated the waiver of\u00a0 principal component of deposits and debentures. The AO\u00a0 treated the same as revenue receipts. Tribunal confirmed the order of the AO. On appeal high Court held that waiver of principal component of deposits and debentures constituted capital receipt. \u00a0Followed ITA No 99 of 2009.(AY. 2007 -08, 2008 -09)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 4 : Charge of income-tax\u2013Capital or revenue\u2013Business of accepting deposits from members and lending the same to non members-Waiver of deposit\u2013Waiver of principal component of deposits and debentures\u2013Capital receipts. [S. 28(i)]<\/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-9874","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2zg","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/9874","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=9874"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/9874\/revisions"}],"predecessor-version":[{"id":9875,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/9874\/revisions\/9875"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=9874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=9874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=9874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}