Thursday, December 15, 2016

Home Direct Taxation Exp. on issue of bonus shares should be allowed as revenue exp, rules Bombay HC

Exp. on issue of bonus shares should be allowed as revenue exp, rules Bombay HC

The High Court of Bombay held that expenses incurred for issue of bonus shares are to be allowed as revenue expenditure.
Commissioner of Income-tax-2 v. Tata Chemicals Ltd. [2016] 75 taxmann.com 228

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Exp. on issue of bonus shares should be allowed as revenue exp, rules Bombay HC

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