Business expenditure u/s.37(1) - share issue expenses - assessee ...

Expenses for Abandoned Share Issue Qualify as Deductible u/s 37(1) for Business Purposes.

November 14, 2022

Case Laws Income Tax AT

Business expenditure u/s.37(1) - share issue expenses - assessee has abandoned the proposal to issue shares at later stage - when the nature of expenditure incurred by the assessee are Revenue in nature and further, said expenses has been incurred wholly and exclusively for the purpose of business, then said expenditure needs to be allowed as Revenue expenditure and deductible u/s.37(1) - AT

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Business expenditure u/s.37(1) - share issue expenses - assessee ...

Expenses for Abandoned Share Issue Qualify as Deductible u/s 37(1) for Business Purposes.

November 14, 2022

Case Laws Income Tax AT

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