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2015 (11) TMI 301 - DELHI HIGH COURT

2015 (11) TMI 301 - DELHI HIGH COURT - TMI - Entitlement to Issue Management Expenses - Held that:- It is not in dispute that in CIT v. Havels India Ltd.[2012 (5) TMI 604 - DELHI HIGH COURT] this Court has held that “the expenditure incurred in connection with issue of debentures or obtaining loan” should be considered as revenue expenditure. In the present case the expenditure incurred is in relation to issuance of convertible bonds. Accordingly, the question framed is answered in the affirmati .....

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see is entitled to a deduction of ₹ 1,16,89,327/- incurred as Issue Management Expenses? 2. It is not in dispute that in CIT v. Havels India Ltd. ITA 55/2012 & 57/2012 this Court has held that the expenditure incurred in connection with issue of debentures or obtaining loan should be considered as revenue expenditure. In the present case the expenditure incurred is in relation to issuance of convertible bonds. Accordingly, the question framed is answered in the affirmative i.e. in favo .....

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