2019 (4) TMI 1124

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....: 1. The assessee has filed this Appeal raising following questions for our consideration; 1. Whether, on the facts and in the circumstances of the case and in law, the Tribunal is justified in holding that lease premium of Rs. 2,31,62,494/amortised and claimed as a deduction during the year under consideration is in the nature of capital expenditure? 2. Whether, on the facts ....

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....assessee pointed out that the question Nos.1 and 2 above are being considered by this Court in case of this very assessee in Income Tax Appeal No.117/16. Such questions are therefore required to be admitted. 3. Question No.3 relates to the assessee's claim of expenditure incurred towards increase in share capital. The assessee in the process had made payment towards fee for merchant bankers....

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....ertaking, such expenditure can be allowed to be amortised in terms of section 35D of the Act. The tribunal rejected such a contention. 6. Learned Counsel for the assessee pointed out that whether a banking company can be said to be an industrial undertaking is being considered by this Court in several Appeals. He drew our attention to a judgment of Kerala High Court in case of Dhanalaxmi Bank L....