2016 (5) TMI 1344

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..... not found to be incorrect or erroneous or false. The Assessing Officer has disallowed fees paid to Registrar of Companies for increase in the share capital treating the same to be capital expenditure. Thus, it is a case where the assessee’s claim that the expenditure incurred is revenue expenditure is found by the Assessing Officer to be not sustainable in law. But, that, by itself, will not amou .....

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..... of the Income-tax Act, 1961. 3. We have heard the arguments of both the sides and perused the material placed before us. The assessee has claimed the expenditure of ₹ 12,04,457/- on account of fees paid to the Registrar of Companies for increase in its share capital. The assessee claimed the same as revenue expenditure which was disallowed by the Assessing Officer treating the same as ca .....

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..... decision of Hon ble Apex Court would be squarely applicable to the facts of the assessee s case. Admittedly, the details supplied by the assessee in its return of income are not found to be incorrect or erroneous or false. The Assessing Officer has disallowed fees paid to Registrar of Companies for increase in the share capital treating the same to be capital expenditure. Thus, it is a case where .....

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