2012 (9) TMI 998

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e is a public financial institution engaged in issuance of shares and debentures. A part of the debentures were convertible debentures. A part of the debentures were convertible debentures. The assessee claimed deduction of expenses incurred for shares and debentures. The Assessing officer holding that the expenses towards shares and convertible debentures cannot be deducted because the amount spe....