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2008 (11) TMI 430 - AT - Income TaxExtract: .......rtible portion in to shares is to be considered as capital expenditure. As admittedly the assessee had incurred expenditure on the non-convertible debentures, the same is allowable as revenue expenditure. The impugned order is upheld on this score. 25. In the result, the appeal of the revenue is dismissed and that of the assessee is partly allowed.
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