https://www.taxtmi.com/caselaws?id=794853 Section 35D is described as allowing amortisation of preliminary expenses, but expenditure on public subscription, underwriting, brokerage, prospectus and related listing costs is treated in the text as confined by section 35D(2)(c) to a company. The note explains that a REIT constituted as a trust remains a distinct fiscal category under the Income-tax Act and cannot, by liberal or harmonious construction, be equated with a company or have its units treated as shares or debentures. It further states that substance over form does not override an express statutory limitation. On that basis, the text records that deduction under section 35D(2)(c) was not available to the REIT and the disallowance was sustained. en-us Wed, 08 Jul 2026 00:00:00 +0530 Mon, 13 Jul 2026 09:18:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794853 Section 35D is described as allowing amortisation of preliminary expenses, but expenditure on public subscription, underwriting, brokerage, prospectus and related listing costs is treated in the text as confined by section 35D(2)(c) to a company. The note explains that a REIT constituted as a trust remains a distinct fiscal category under the Income-tax Act and cannot, by liberal or harmonious construction, be equated with a company or have its units treated as shares or debentures. It further states that substance over form does not override an express statutory limitation. On that basis, the text records that deduction under section 35D(2)(c) was not available to the REIT and the disallowance was sustained. Case-Laws Income Tax Wed, 08 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794853