Share Application Money Must Be Banked Until Allotment; Interest Can Offset Public Issue Costs. https://www.taxtmi.com/highlights?id=39095 Setoff of public issue expenses with Interest accrued - Respondent was statutorily required to keep the share application money in the bank till the allotment of shares was complete - the interest accrued to such deposit of money in the bank is liable to be setoff against the public issue expenses - SC en-us Thu, 26 Apr 2018 17:41:28 +0530 Thu, 26 Apr 2018 17:41:28 +0530 TaxTMI RSS Generator Share Application Money Must Be Banked Until Allotment; Interest Can Offset Public Issue Costs. https://www.taxtmi.com/highlights?id=39095 Setoff of public issue expenses with Interest accrued - Respondent was statutorily required to keep the share application money in the bank till the allotment of shares was complete - the interest accrued to such deposit of money in the bank is liable to be setoff against the public issue expenses - SC Highlights Income Tax Thu, 26 Apr 2018 17:41:28 +0530 https://www.taxtmi.com/highlights?id=39095