Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Page of 4792
Press 'Enter' after typing page number.
121 to 140 of 95833 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
