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TMI Blog2020 (2) TMI 446X X X X Extracts X X X X X X X X Extracts X X X X ..... - SUPREME COURT] clearly settles the law on the question whether fees paid to ROC on expansion of share capital is capital or revenue and has laid down that the expenditure is capital expenditure. While concluding the assessment, the AO overlooked the aspect of disallowance of fees paid to ROC which was evident from the record. Therefore the AO initiated proceedings u/s.154. No infirmity in th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... capital base is capital expenditure or revenue expenditure. We are therefore, of the view that there is no merit in this appeal and accordingly, the same is dismissed. - ITA No.2012(Bang)/2019 (Assessment Year : 2014-15) - - - Dated:- 20-1-2020 - SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI A.K. GARODIA, ACCOUNTANT MEMBER Appellant by: Shri S. Ramasubramanian, CA Revenue by: Shri S. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... C) fees paid to ROC towards increase in share capital has to be treated as capital expenditure and cannot be allowed as deduction. 3. The AO realizing that the ROC filing fees had not been disallowed in the assessment concluded u/s.143(3) of the Act, initiated proceedings u/s 154 of Act and by an order dated 26-10-2018 disallowed the ROC filing fees and accordingly added the sum disallowed to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... expenditure is capital expenditure. While concluding the assessment, the AO overlooked the aspect of disallowance of fees paid to ROC which was evident from the record. Therefore the AO initiated proceedings u/s.154 of the Act. We do not find any infirmity in the action of the AO. It is no doubt true that the proceedings u/s154 of the IT Act, cannot be initiated on debatable issue, but it is equa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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