https://www.taxtmi.com/caselaws?id=9691 The High Court ruled that share issue expenses, fees to Registrar of Companies, and prospectus report fee were capital expenditures, not allowable as business expenditures. However, the court favored the assessee regarding amalgamation and liquidation expenses. The Court upheld the Tribunal's decision not to condone the delay in filing cross-objections, emphasizing the need for cogent evidence to justify the delay. The Revenue prevailed as the delay was not adequately justified. en-us Mon, 06 Feb 2006 00:00:00 +0530 Mon, 29 Jun 2009 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9691 The High Court ruled that share issue expenses, fees to Registrar of Companies, and prospectus report fee were capital expenditures, not allowable as business expenditures. However, the court favored the assessee regarding amalgamation and liquidation expenses. The Court upheld the Tribunal's decision not to condone the delay in filing cross-objections, emphasizing the need for cogent evidence to justify the delay. The Revenue prevailed as the delay was not adequately justified. Case-Laws Income Tax Mon, 06 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9691