https://www.taxtmi.com/highlights?id=52187 Payment of interest on share application money - Nature of expenditure - the assessee with an object to increase share capital has incurred expenses in the form of payment of interest on account of delay in allotment of shares, yet the increase in capital results in expansion of the capital base of the company and may also help in profit making. Therefore, it retains it’s character as capital expenditure - HC en-us Fri, 06 Mar 2020 13:40:32 +0530 Fri, 06 Mar 2020 13:40:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=52187 Payment of interest on share application money - Nature of expenditure - the assessee with an object to increase share capital has incurred expenses in the form of payment of interest on account of delay in allotment of shares, yet the increase in capital results in expansion of the capital base of the company and may also help in profit making. Therefore, it retains it’s character as capital expenditure - HC Highlights Income Tax Fri, 06 Mar 2020 13:40:32 +0530 https://www.taxtmi.com/highlights?id=52187