https://www.taxtmi.com/caselaws?id=793038 The article notes that where the issue price remained within the 10% safe harbour under Rule 11UA as introduced by Notification No. 81/2023, the price is deemed to be fair market value and no addition can be sustained under section 56(2)(viib). It also states that legal and professional charges incurred for due diligence, advisory work, drafting and fund-raising facilitation were revenue expenditure because they did not create any capital asset or enduring capital advantage, so disallowance as capital expenditure under section 37(1) was not justified. en-us Fri, 05 Jun 2026 00:00:00 +0530 Sat, 06 Jun 2026 13:08:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793038 The article notes that where the issue price remained within the 10% safe harbour under Rule 11UA as introduced by Notification No. 81/2023, the price is deemed to be fair market value and no addition can be sustained under section 56(2)(viib). It also states that legal and professional charges incurred for due diligence, advisory work, drafting and fund-raising facilitation were revenue expenditure because they did not create any capital asset or enduring capital advantage, so disallowance as capital expenditure under section 37(1) was not justified. Case-Laws Income Tax Fri, 05 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793038