Claim of Deduction under Section 37 of the Income-tax Act, 1961 – ipo exp.
This query is : Open
22 May 2025
• The Company raised a total amount of ₹36.58 crores through the Rights Issue.
• As per the prospectus filed with SEBI, one of the objects of the issue was to meet general corporate purposes including working capital needs.
• Subsequently, a portion of the Rights Issue proceeds amounting to ₹28.88 crores has been utilised for working capital purposes including purchase of raw materials, payment to creditors, overhead expenses, Rights Issue expenses, etc.
• The said expenses are reflected in the books of account and are directly related to the regular operations of the business.
• As per the prospectus filed with SEBI, one of the objects of the issue was to meet general corporate purposes including working capital needs.
• Subsequently, a portion of the Rights Issue proceeds amounting to ₹28.88 crores has been utilised for working capital purposes including purchase of raw materials, payment to creditors, overhead expenses, Rights Issue expenses, etc.
• The said expenses are reflected in the books of account and are directly related to the regular operations of the business.
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