https://www.taxtmi.com/caselaws?id=352658 The ITAT dismissed the disallowance of expenses under Section 35D, upholding the decision that expenses for increasing authorized share capital are capital in nature. However, the ITAT allowed the appeal for statistical purposes regarding the disallowance under Section 40(a)(ia) for non-deduction of tax on payments to the Seamen Welfare Foundation. The issue was remitted back to the Commissioner of Income Tax (Appeals) for reconsideration based on the assessee's argument that the payee had included the amount in their income return and paid the required tax. en-us Thu, 14 Dec 2017 00:00:00 +0530 Tue, 19 Dec 2017 08:50:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352658 The ITAT dismissed the disallowance of expenses under Section 35D, upholding the decision that expenses for increasing authorized share capital are capital in nature. However, the ITAT allowed the appeal for statistical purposes regarding the disallowance under Section 40(a)(ia) for non-deduction of tax on payments to the Seamen Welfare Foundation. The issue was remitted back to the Commissioner of Income Tax (Appeals) for reconsideration based on the assessee's argument that the payee had included the amount in their income return and paid the required tax. Case-Laws Income Tax Thu, 14 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352658