ROC Exp.
This query is : Resolved
Subhash Chander
(Querist)
23 June 2009
Dear All,
The company has increased its authroised capital on which ROC Exp. are Rs. 2 Lac. Whether these exp. be included in Preliminary Exp. and should be deduct 1/5 every year or should be debited to administrative exp. under head fees & taxes. Please explain with section / rule details if any. Earlier in a other company case we have debited it in expenses account and claim fully in the same year. But at the time of assessment ITO object it. But we are enable to find the related section. Please guide.
Subhash Chander
999 000 3502
The company has increased its authroised capital on which ROC Exp. are Rs. 2 Lac. Whether these exp. be included in Preliminary Exp. and should be deduct 1/5 every year or should be debited to administrative exp. under head fees & taxes. Please explain with section / rule details if any. Earlier in a other company case we have debited it in expenses account and claim fully in the same year. But at the time of assessment ITO object it. But we are enable to find the related section. Please guide.
Subhash Chander
999 000 3502
23 June 2009
To support the view expressed above, u can cite the following case law also.
Punjab State Industrial Development Corporation Ltd 225 ITR 792 (SC).
Punjab State Industrial Development Corporation Ltd 225 ITR 792 (SC).
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