https://www.taxtmi.com/caselaws?id=185538 The Tribunal dismissed the assessee's appeal regarding the deduction under sec. 35D(2)(c)(iv) for brokerage expenditure on raising capital. The Tribunal held that the share capital issue was not for public subscription but preferential basis, and there was no evidence of business expansion due to the share issue. Consequently, the assessee's claim for deduction under S.35D and as revenue expenditure was rejected, and the appeal was dismissed on 03-03-2010. en-us Wed, 03 Mar 2010 00:00:00 +0530 Wed, 17 Aug 2016 17:47:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185538 The Tribunal dismissed the assessee's appeal regarding the deduction under sec. 35D(2)(c)(iv) for brokerage expenditure on raising capital. The Tribunal held that the share capital issue was not for public subscription but preferential basis, and there was no evidence of business expansion due to the share issue. Consequently, the assessee's claim for deduction under S.35D and as revenue expenditure was rejected, and the appeal was dismissed on 03-03-2010. Case-Laws Income Tax Wed, 03 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185538