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expenses related to preferential allotment of equity shares

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21 January 2010 how to treat expenses related to preferential issue i.e fees paid to bse,nsdl,cdsl, fees to roc for increase of authorised capital etc. for income tax purpose.
whether we can treat them as deferred revenue and write off 1/5 in books
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
21 January 2010 As per section 35D(2)(c)(iii) of the Income tax Act,1961 only fees paid for registration of a company is deductible. Fees paid for increase in share capital, not being fees for registration of the company, is not amortisable under this provision.
Citation :- CIT v. Hindustan Insecticides Ltd. [2001] 250 ITR 338 (Delhi).
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