TMI BlogBusiness expenditure u/s.37(1) - share issue expenses - assessee has abandoned the proposal to issue...Business expenditure u/s.37(1) - share issue expenses - assessee has abandoned the proposal to issue shares at later stage - when the nature of expenditure incurred by the assessee are Revenue in nature and further, said expenses has been incurred wholly and exclusively for the purpose of business, then said expenditure needs to be allowed as Revenue expenditure and deductible u/s.37(1) - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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