EXPENSES FOR BUYBACK OF SHARES ARE SIMILAR TO EXPENSES FOR ISSUE OF BONUS SHARES AND ARE REVENUE EXPENSES

EXPENSES FOR BUYBACK OF SHARES ARE SIMILAR TO EXPENSES FOR ISSUE OF BONUS SHARES AND ARE REVENUE EXPENSES https://www.taxtmi.com/article/detailed?id=936 Expenses incurred for a company's buyback of its own shares were treated as revenue expenses where the buyback was financed from free reserves, produced no enduring benefit or permanent change in the capital base, and thus were allowable as business expenditure analogous to expenses on bonus issues; procedural statutory preconditions and disclosures for buyback remain relevant but do not convert such costs into capital expenditure. en-us Mon, 06 Sep 2010 00:00:00 +0530 Mon, 06 Sep 2010 21:10:21 +0530 TaxTMI RSS Generator EXPENSES FOR BUYBACK OF SHARES ARE SIMILAR TO EXPENSES FOR ISSUE OF BONUS SHARES AND ARE REVENUE EXPENSES https://www.taxtmi.com/article/detailed?id=936 Expenses incurred for a company's buyback of its own shares were treated as revenue expenses where the buyback was financed from free reserves, produced no enduring benefit or permanent change in the capital base, and thus were allowable as business expenditure analogous to expenses on bonus issues; procedural statutory preconditions and disclosures for buyback remain relevant but do not convert such costs into capital expenditure. Articles Income Tax Mon, 06 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=936