Allowance of expenditure in respect of preliminary expenses ...

Expenditure for issuing shares not eligible for amortization u/s 35D; expansion must involve new undertaking establishment.

May 4, 2016

Case Laws Income Tax AT

Allowance of expenditure in respect of preliminary expenses under section 35D - an apparent extension or expansion must take place by establishing new undertaking - The expansion in the present case is acquisition of existing undertaking. Therefore, we find that the expenditure incurred by the assessee-company in connection with the issue of shares do not qualify to be amortised under section 35D - AT

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Allowance of expenditure in respect of preliminary expenses ...

Expenditure for issuing shares not eligible for amortization u/s 35D; expansion must involve new undertaking establishment.

May 4, 2016

Case Laws Income Tax AT

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