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2021 (5) TMI 216 - AT - Income TaxAddition towards ROC expenses - HELD THAT:- On perusal of the financial statements submitted by the assessee, we find that there is no doubt that the assessee has increased share capital. On perusal of the provisions of section 35D, we find substance in the written synopsis submitted by the ld. AR of the assessee relying on the judgements quoted supra that section 35D provides amortization of certain expenses, which are in the nature of capital/intangibles/preliminary expenses, which have been incurred by the assessee in the preliminary stage of the company or in the normal course of business and the assessee is entitled to amortize of expenses over a period of time as per section 35D. Therefore, the AO is directed to allow the ROC expenditure incurred towards increase of share capital as per section 35D - Decided in favour of assessee. Addition towards expenses for acquisition of subsidiary companies - HELD THAT:- As assessee has filed bills and vouchers in paper book at pages 63 to 80 and the same were placed before the CIT(A) & AO. On considering the totality of the facts of the case also remit this back to the file of the AO for verification of bills and vouchers and the same are found in order, the AO is directed to allow these expenses as revenue expenditure for the impugned AY. Accordingly, this ground is allowed for statistical purposes. Addition towards carry forward loss - HELD THAT:- We find that the assessee has not pressed this ground before the CIT(A), but, the same has been pressed before us. Therefore, we restore this ground back to the AO for his factual verification. Thus, this ground of appeal is treated as allowed for statistical purposes.
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