https://www.taxtmi.com/caselaws?id=29027 The court upheld the Tribunal's decision to disallow Rs. 13,99,305 as capital expenditure incurred in connection with issuing fresh shares, stating it reinforced the company's capital base permanently, constituting enduring advantage and capital cost. Relying on precedents, the court emphasized any expenditure altering or adding to share capital is capital in nature, regardless of the purpose. Distinguishing cases, the court concluded the expenditure aimed at strengthening the capital structure, resulting in an enduring benefit, and upheld the disallowance, with each party bearing its own costs. en-us Mon, 17 Aug 1981 00:00:00 +0530 Wed, 10 Mar 2010 12:56:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29027 The court upheld the Tribunal's decision to disallow Rs. 13,99,305 as capital expenditure incurred in connection with issuing fresh shares, stating it reinforced the company's capital base permanently, constituting enduring advantage and capital cost. Relying on precedents, the court emphasized any expenditure altering or adding to share capital is capital in nature, regardless of the purpose. Distinguishing cases, the court concluded the expenditure aimed at strengthening the capital structure, resulting in an enduring benefit, and upheld the disallowance, with each party bearing its own costs. Case-Laws Income Tax Mon, 17 Aug 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29027