Legal Fees for Share Buyback Treated as Deductible Revenue Expenditure in Income Tax, Not Capital Enhancement.

Allowability of legal & professional fees pertaining to buyback of shares - deduction in respect of expenditure incurred for proceeding of implementation of buyback of shares which would not in any manner enhance the capital structure of the assessee but there is outflow of capital and no deduction is claimed for outflow of capital - allowed such expenditure as revenue expenditure. .....

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