Deduction u/s 35 D

Court :
High Court

Brief :
neither reserve nor the surplus of the assessee is a part of the capital employed in the business of the company.

Citation :
Berger Paints India Ltd. Vs. C.I.T.

Deduction u/s 35D Berger Paints India Ltd. Vs. C.I.T. 05/15/2006 [2007] 292 ITR 658 (Delhi) Case Fact: Whether, premium on issue of share is part of "Capital Employed" in the business of company with in the meaning of section 35D? Decision: Held by the Hon`ble Court that, as per section 35D(3) neither reserve nor the surplus of the assessee is a part of the capital employed in the business of the company. Therefore security premium collected by the assessee would not constitute a part of the "capital employed in the business of the company".

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Judgement posted by

CA.Saibaburao Nanduri

Chartered Accountant

I am a commerce graduarte of Andhra University. Studied at HINDU COLLEGE, Guntur. Became FCA and started Practice under the name and style of M/s SAIBABU RAO CO I became Chairman of CA Institute, Guntur Branch, during the year 2008-09 My post qualifications are: Information Systems Audit DISA (ICAI) ... Read more

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