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1980 (1) TMI 32 - HC - Income TaxExtract: .......ar that the expenditure incurred by an assessee-company in its attempt to raise additional share capital for the company would be capital in nature. We, therefore, answer the question referred to us in the negative and against the assessee. As the assessee has failed he will pay the costs of the reference to the respondent, which we fix at Rs. 300.
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