ROC fee for increase in auth. capital

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Sumit (Querist)
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01 February 2011 This fees paid in the course of running business is definitely not a revenue expenditure. But is this allowable under any other section i.e. 35D or any other in several parts ?

Also how will it remain reflected in Balance Sheet ? Thanks in adance

CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)
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01 February 2011 Increase in merely authorised capital is not covered u/s 35D.

This expenditure has to be amortised in P/L account.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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01 February 2011 Delhi high court in (2001) 250 ITR 338 said 35D can be claimed if such expenditure is incurred in connection with the expansion of the industrial undertaking or in connection with setting up of the new industrial undertaking.

But Kerala High court in The Federal Bank Ltd's case, (1989)180 ITR 241 (Ker), said that the referred expenditure is revenue in nature applying commerecial expedency test.

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