https://www.taxtmi.com/caselaws?id=20307 HC held that premium payable on redemption of non-convertible debentures was a contingent liability arising only on expiry of seven years if debentures were not repurchased; hence, no part of the premium was deductible in the assessment year in question. Fees paid to the Registrar of Companies for enhancement of share capital were held to be capital expenditure, not allowable as deduction under s.37. However, expenditure on repairs and insurance of motor cars, treated as "plant" under s.43(3), was held allowable under s.31 and therefore outside the ambit of disallowance under s.37(3A); this issue was decided in favour of the assessee. en-us Thu, 28 Nov 1991 00:00:00 +0530 Tue, 09 Dec 2025 12:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20307 HC held that premium payable on redemption of non-convertible debentures was a contingent liability arising only on expiry of seven years if debentures were not repurchased; hence, no part of the premium was deductible in the assessment year in question. Fees paid to the Registrar of Companies for enhancement of share capital were held to be capital expenditure, not allowable as deduction under s.37. However, expenditure on repairs and insurance of motor cars, treated as "plant" under s.43(3), was held allowable under s.31 and therefore outside the ambit of disallowance under s.37(3A); this issue was decided in favour of the assessee. Case-Laws Income Tax Thu, 28 Nov 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20307