Disallowance of FEES PAID TO ROC
This query is : Resolved
CA.CS.V.Viswanathan
(Querist)
31 October 2009
Respected Experts,
There is a Disallowance when fees is paid to ROC For Increase in Authorized Capital
my query is whether this Capital expenditure be treated as Differed Revenue expenditure and be amortized in 5 Years..(The Increase in capital was done after 2 Years of incorporation) ?
is there any case law or provision in the Act .
Please Help
There is a Disallowance when fees is paid to ROC For Increase in Authorized Capital
my query is whether this Capital expenditure be treated as Differed Revenue expenditure and be amortized in 5 Years..(The Increase in capital was done after 2 Years of incorporation) ?
is there any case law or provision in the Act .
Please Help
Ankur Garg
(Expert)
31 October 2009
Fees paid to the RoC for increase in authorised capital is a capital expenditure not deductible u/s 37(1) but deductible u/s 35D.
Citation:-
1. Punjab State Industrial Development Corporation Ltd 225 ITR 792 (Sc).
2. Mohan Meakin Breweries Ltd 117 ITR 501 (HP)- says that Fees paid for increase of authorised capital is an inadmissable expenses.
Citation:-
1. Punjab State Industrial Development Corporation Ltd 225 ITR 792 (Sc).
2. Mohan Meakin Breweries Ltd 117 ITR 501 (HP)- says that Fees paid for increase of authorised capital is an inadmissable expenses.
CA Gangadhar Mishra
(Expert)
31 October 2009
deduct U/S 35D
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