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2012 (2) TMI 279 - AT - Income TaxExpenditure Incurred on Increasing authorized Share Capital - Capital OR Revenue - Held That:- When expenses are incurred to increase the share capital and it was immaterial for what purpose the share capital was utilized by the assessee. Reliance placed on CIT vs Kotak India (2001 -TMI - 6052 - SUPREME Court). - Decided against the assessee. Employees’ contribution to the provident fund after the due date under relevant act - Held That:- CIT Vs. Nexus Computer P. Ltd.(2008 - TMI - 33881 - MADRAS HIGH COURT) and in view of Vinay Cement (2007 - TMI - 102762 - Supreme Court of India), payments made before date of filing return under 139(1), deduction allowed. Deemed Dividends - Deposits from common shareholders having more than 20% equity - Deposits for office space - Held That:- It could not be brought to notice that assessee and the creditor were in the line of the same business of garment export and as to whether there was any business relation earlier to this transaction. As the facts are not clear we remand the matter back to AO.
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