Expenses like name change exp. of company in income tax?

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Sushant Mahajan (Querist)
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20 September 2013 Will the following expenses be allowable to be set off against business income:

1) Expenditure for formalities of increasing Authorized Share Capital.

2) Expenditure for formalities of Director Change.

3) Expenditure for formalities of name change of co.?

Please reply.

Ganeshbabu K

Ganeshbabu K (Expert)
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20 September 2013 1)IT IS TREATED AS REVENUE EXPENDITURE AND ALLOWED AS A EXPENCE

CITATION : M/S HERO MOTORS LTD VS CIT (IT IS APPELETE TRIBUNAL JUDGEMENT

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Ganeshbabu K

Ganeshbabu K (Expert)
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20 September 2013 2)IT IS PURELY BUSINESS EXPENSE,,

3)IN MY OPINION ALL FEES PAID TO ROC IS REVENUE EXPENCES,,REFER ABOVE CASE

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Sushant Mahajan

Sushant Mahajan (Querist)
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21 September 2013 Sir,

The expenses in all the above three cases will also be including professional charges by a Chartered Accountant. Will these be allowed apart from ROC expenses?

Also, if total expense in all three cases will be allowed, will it be treated like preliminary expenses .i.e. some amount will be written off each year or entire amount will written off in the same year?

Sushant Mahajan

Sushant Mahajan (Querist)
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21 September 2013 Sir,

Please refer this link also:

https://groups.yahoo.com/neo/groups/ICAI_CIRC_MEERUT_CA/conversations/topics/85613

Ganeshbabu K

Ganeshbabu K (Expert)
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21 September 2013 ALL ARE REVENUE EXPENCES ONLY
.
.
REFER BELOW

A VERY RECENT APPELENT TRIBUNAL DECISION

https://www.caclubindia.com/judiciary/fees-paid-to-the-roc-are-revenue-expenditure-2003.asp#.Uj04AsanrDU

27/05/2013...SO IN MY OPINION IT IS REVENUE EXPENCES ONLY

Ganeshbabu K

Ganeshbabu K (Expert)
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21 September 2013 ROC FEE PAID CAN BE EXPENCED TO RATES AND TAXES IN THE YEAR IN WHICH IT IS INCURRED AND AT THE SAME TIME PROFESSIONAL CHARGES OF CA CAN BE EXPENCED TO PROFESSIONAL AND CONSULTANCY CHARGES

Sushant Mahajan

Sushant Mahajan (Querist)
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21 September 2013 Thanks a tonne sir.

Sushant Mahajan

Sushant Mahajan (Querist)
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21 September 2013 Thank you sir

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