Expenses for Abandoned Share Issue Qualify as Deductible u/s 37(1) for Business Purposes.

Expenses for Abandoned Share Issue Qualify as Deductible u/s 37(1) for Business Purposes. https://www.taxtmi.com/highlights?id=66528 Business expenditure u/s.37(1) - share issue expenses - assessee has abandoned the proposal to issue shares at later stage - when the nature of expenditure incurred by the assessee are Revenue in nature and further, said expenses has been incurred wholly and exclusively for the purpose of business, then said expenditure needs to be allowed as Revenue expenditure and deductible u/s.37(1) - AT en-us Mon, 14 Nov 2022 14:23:18 +0530 Mon, 14 Nov 2022 14:23:18 +0530 TaxTMI RSS Generator Expenses for Abandoned Share Issue Qualify as Deductible u/s 37(1) for Business Purposes. https://www.taxtmi.com/highlights?id=66528 Business expenditure u/s.37(1) - share issue expenses - assessee has abandoned the proposal to issue shares at later stage - when the nature of expenditure incurred by the assessee are Revenue in nature and further, said expenses has been incurred wholly and exclusively for the purpose of business, then said expenditure needs to be allowed as Revenue expenditure and deductible u/s.37(1) - AT Highlights Income Tax Mon, 14 Nov 2022 14:23:18 +0530 https://www.taxtmi.com/highlights?id=66528