Income tax
This query is : Resolved
11 March 2010
Whether fees paid towards increase of authorised capital is a allowable expenses U/S.37.
pls advice
pls advice
11 March 2010
It is capital expenditure and not allowed
As per case law Punjab state Industrial Development Corporation Ltd.
As per case law Punjab state Industrial Development Corporation Ltd.
11 March 2010
NOT ALLOWABLE.
REG FEES PAID FOR INCREASE IN AUTHORISED SHARE CAPITAL IS NOT ALLOWABLE U/S 37.
(BHARAT CARBON & RIBON MFG. CO. LTD. V CIT) [1981]27 ITR 239 (DELHI)
REG FEES PAID FOR INCREASE IN AUTHORISED SHARE CAPITAL IS NOT ALLOWABLE U/S 37.
(BHARAT CARBON & RIBON MFG. CO. LTD. V CIT) [1981]27 ITR 239 (DELHI)
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