Supreme Court Rules ROC Fees for Increasing Share Capital as Capital Expenses, Misclassification Leads to Penalties.

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....When ROC fees incurred for enhancement of authorized share capital has already been held to be capital expenditure by Apex Court in the case of Punjab State Industrial Development Corporation Ltd. [1996 (12) TMI 6 - SUPREME Court], claiming such expense as revenue expenses amounts to furnishing inaccurate particulars of income - penalty confirmed....