Fees paid to the ROC are revenue expenditure
Court :
INCOME TAX APPELLATE TRIBUNAL
Brief :
Brief facts of the case are that the assessee company, in the relevant year, was engaged in manufacturing of motorized two wheelers and auto components/spare parts for auto industries. It had filed its return of income declaring loss of Rs. 37,11,83,633/-. The assessment was completed at a total loss of Rs. 34,94,41,949/, inter alia, after making following addition/disallowance: Disallowance of Rs. 37,50,5000/- being fees paid to ROC for increase in authorized share capital.
Citation :
Deputy Commissioner of Income Tax (LTU) NBCC Plaza, Pushp Vihar, Sector-III, New Delhi 110017 (Appellant) Vs. M/s. Hero Motors Ltd, 601, International Trade Tower,Nehru Place, New Delhi 100014(Respondent)
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Published in Income Tax
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