https://www.taxtmi.com/caselaws?id=65587 Amortisation under section 35D was denied for ROC fees paid only for increase in authorised share capital, because the expense was not connected with extension of an industrial undertaking or a new unit. ESOP discount was also held not deductible in the year of grant, since no actual expenditure or accrued liability arose and a notional short receipt of share premium is not business expenditure. By contrast, the principal element of lease rental was treated as capital recovery and not taxable, while actuarial pension provision, duty drawback treatment, turnover exclusions for section 80HHC and the consequential book-profit adjustment were upheld. The society contribution, weighted deduction for approved R&D assets, and deduction of crystallised NPPA liability were also allowed. en-us Fri, 12 Jun 2009 00:00:00 +0530 Mon, 16 Oct 2023 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65587 Amortisation under section 35D was denied for ROC fees paid only for increase in authorised share capital, because the expense was not connected with extension of an industrial undertaking or a new unit. ESOP discount was also held not deductible in the year of grant, since no actual expenditure or accrued liability arose and a notional short receipt of share premium is not business expenditure. By contrast, the principal element of lease rental was treated as capital recovery and not taxable, while actuarial pension provision, duty drawback treatment, turnover exclusions for section 80HHC and the consequential book-profit adjustment were upheld. The society contribution, weighted deduction for approved R&D assets, and deduction of crystallised NPPA liability were also allowed. Case-Laws Income Tax Fri, 12 Jun 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65587