Expenses - increase in authorised capital - section 35D, Income Tax

[Anup Kumar Grover]

Whether expenses incurred on increase in authorised capital by an NBFC, allowable under section 35D or not?

Posts / Replies

[Rama Krishana]

No, you are not entitled to calim the deduction under section 35D for expenses incurred on increase in authorized capital by an NBFC - Decision of Madaras High Court may be referred to - http://www.taxmanagementindia.com/visitor/detail_case_laws.asp?ID=33217

[Rama Krishana]

Further you may visit to following case law - http://www.taxmanagementindia.com/visitor/detail_case_laws.asp?ID=12655