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2012 (8) TMI 810 - HC - Income TaxExpenditure for subdivision of shares of the company - Revenue OR Capital expenditure - Held that:- The expenditure admittedly was made for the purpose of sub-division of the shares. It is not even the case of the Department that by such arrangement, share capital of the assessee company in any manner increased. Such sub-division was made only for the purpose of easy trading of the shares in the market. Such arrangement, therefore, may result into some benefit for the shareholders of the company, nevertheless it is unable to see how the revenue can argue that such division of shares resulted into any enduring benefit for the company - as in case of sub-division of the shares also, there is no increase in the share capital of the company and , the company gains enduring benefit is without any support from the record - in favour of assessee.
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