https://www.taxtmi.com/caselaws?id=58537 The Tribunal partially allowed the assessee's appeal and dismissed the departmental appeal, upholding the disallowance of the claimed deduction for fees paid to the Registrar of Companies for increasing the authorized capital. The expenditure was deemed to be of a capital nature as it provided an enduring benefit in the capital field, allowing the company to acquire fresh capital from the public. The decision was influenced by precedents emphasizing the enduring benefit and capital nature of such expenses, leading to the disallowance based on the distinction between obtaining capital through shares and loans. en-us Thu, 08 Jul 1982 00:00:00 +0530 Mon, 20 Dec 2010 15:09:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58537 The Tribunal partially allowed the assessee's appeal and dismissed the departmental appeal, upholding the disallowance of the claimed deduction for fees paid to the Registrar of Companies for increasing the authorized capital. The expenditure was deemed to be of a capital nature as it provided an enduring benefit in the capital field, allowing the company to acquire fresh capital from the public. The decision was influenced by precedents emphasizing the enduring benefit and capital nature of such expenses, leading to the disallowance based on the distinction between obtaining capital through shares and loans. Case-Laws Income Tax Thu, 08 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58537