Opportunity to respond to jurisdictional reports is mandatory before customs settlement duty enhancement; connected applications require consistent ad...
Specific customs headings for scaffolding components prevail over general classification, invalidating misclassification proceedings and enabling with...
Liquidator appointment under Section 34 requires consideration of creditor recommendations, valid professional authorisation, and preservation of vali...
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Section 35D(2)(c) was held to allow deduction only to a company for expenditure connected with public subscription of its shares or debentures. The Tribunal applied strict construction and refused to extend that relief to a REIT constituted as a trust, since a business trust is neither a company nor deemed to be one under the Act. It further held that REIT units are legally distinct from shares or debentures, and their regulatory treatment under SEBI norms does not change that character for section 35D(2)(c). The disallowance of the public issue expense claim was therefore sustained.
Section 35D(2)(c) was held to allow deduction only to a company for expenditure connected with public subscription of its shares or debentures. The Tribunal applied strict construction and refused to extend that relief to a REIT constituted as a trust, since a business trust is neither a company nor deemed to be one under the Act. It further held that REIT units are legally distinct from shares or debentures, and their regulatory treatment under SEBI norms does not change that character for section 35D(2)(c). The disallowance of the public issue expense claim was therefore sustained.
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