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Income Tax - Highlights / Catch Notes

Home Highlights May 2016 Year 2016 This

Allowance of expenditure in respect of preliminary expenses ...

Income Tax

May 4, 2016

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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