https://www.taxtmi.com/caselaws?id=11528 Public issue expenditure incurred to raise capital for business expansion is allowable only to the extent it falls within the specified items in section 350(2)(c)(iv), namely underwriting commission, brokerage, and charges for drafting, typing, printing, and advertisement of the prospectus. The allowance does not extend to the entire capital issue cost merely because the expenditure relates to a public issue. A proper break-up of the expenditure is therefore necessary to identify the eligible component. Deduction is available only for the identifiable portion matching the statutory items. en-us Mon, 21 Jul 2003 00:00:00 +0530 Thu, 14 Jan 2010 11:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11528 Public issue expenditure incurred to raise capital for business expansion is allowable only to the extent it falls within the specified items in section 350(2)(c)(iv), namely underwriting commission, brokerage, and charges for drafting, typing, printing, and advertisement of the prospectus. The allowance does not extend to the entire capital issue cost merely because the expenditure relates to a public issue. A proper break-up of the expenditure is therefore necessary to identify the eligible component. Deduction is available only for the identifiable portion matching the statutory items. Case-Laws Income Tax Mon, 21 Jul 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11528