Expenditure on increase of Capital Expenses
This query is : Resolved
05 October 2007
Is Expenditure on increase of Authorised Share Capital before the commencement of business allowable expenditure u/s 35D of IT Act 1961 ??
Amarjeet
9911011042
Amarjeet
9911011042
05 October 2007
Fees paid to the RoC for enhancement of capital is a capital expenditure not deductible u/s 37(1) but deductible u/s 35D - Punjab state Industrial Development Corp ltd 225 ITR 792 (SC)
Mohan Meakin Breweries Ltd 117 ITR 501 (HP)- says that Fees paid for increase of authorised capital is an inadmissable expenses.
Mohan Meakin Breweries Ltd 117 ITR 501 (HP)- says that Fees paid for increase of authorised capital is an inadmissable expenses.
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