2015 (11) TMI 301

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..... , 2008 by this Court is as under: "Whether the Assessee is entitled to a deduction of Rs. 1,16,89,327/- incurred as Issue Management Expenses?" 2. It is not in dispute that in CIT v. Havels India Ltd. ITA 55/2012 & 57/2012 this Court has held that "the expenditure incurred in connection with issue of debentures or obtaining loan" should be considered as revenue expenditure. In the present case .....

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..... show cause notices without the AO conducting any independent enquiry could not be sustained. 4. The Court finds that the additions were made only on the basis of the show cause notices issued by the Central Excise authorities which were subsequently dropped. Consequently such additions could not have been sustained. The question accordingly is answered in the affirmative i.e. in favour of the Ass .....

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