2012 (11) TMI 628

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..... penses, lead manager fees and advertisement expenses, totalling to Rs.3,08,791/-, said expenses are capital in nature, the same has been rightly rejected by the Commissioner of Income Tax (Appeals) - Commissioner has given categorical finding in respect of other expenses that the nature of the expenses is only revenue, as those expenses are to meet out the day today transactions of the business of .....

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..... the case, the Tribunal was right in holding that expenses relating to issue of share capital would be eligible for deduction as a revenue expenditure? 2. Whether in the facts and circumstances of the case, expenditure which might otherwise be allowable as regular business expenditure would be allowed as such when incurred in relation to issue of share capital?" 2. The assessee had claimed s .....

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..... 3. Printing expenses Rs. 32,989.00 4. Listing Fees Rs. 39,250.00 5. Stationery Exp. Rs. 1,91,674.20 6. Travelling Meeting exp. Rs. 26,635.85 7. Bank Charges Commission Rs. 57,288.00 8. Lead Managers fees Rs. 1,13,000.00 9. Advertisement Rs. 7,74,665.30 10. Prof. Certificate Rs. .....

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..... Tax (Appeals) does not warrant any interference as the Commissioner of Income Tax (Appeals) has given categorical findings as to which are the expenses incurred in the regular course of the business and which are the expenses incurred in the capital field. The Tribunal has also noted that the Commissioner of Income Tax (Appeals) has passed the order only after getting remand report from the Asses .....

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..... t the day today transactions of the business of the assessee. 5. In view of the factual finding rendered by the Commissioner of Income Tax (Appeals) based on the report received from the Assessing Authority, which has been accepted by the Tribunal and there being no contradiction in the finding of the Tribunal, we find no reason to interfere with the order. In the result, the appeal is dismiss .....

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