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1987 (3) TMI 44 - BOMBAY HIGH COURT
Extract:
.......penditure incurred by the assessee in raising additional capital by issue of equity shares as distinct from bonus shares cannot be allowed as deduction. In the above view of the matter, our answer to the question is that items (a) and (b) of the expenditure are to be allowed as deduction, whereas item (c) is not to be allowed. No order as to costs.