resolution produced as
Annexures-M and N respectively.
g) The share capital structure of the transferor
company is as under:
Authorised capital ... Companies Act, there was no change in the
capital structure of the company. It is carrying on the same
business as the transferee company. Both
real estate, building and developing commercial and
residential complexes. Its capital structure is as follows:
Authorised capital:
3,00,000 equity shares ... real estate, building and developing commercial
and residential complexes. Its capital structure is as
follows:
Authorised capital:
10,00,000 equity shares
object for which the earlier company had been incorporated and new capital structure was provided for and raised and it was only in or about
shown as a capital receipt and not as a trading receipt and therefore, the assessee is not liable to pay tax and the judgments relied ... debentures becomes a part of the company's capital structure, yet it does not become share capital.
7. The term 'debenture
commercial sense and it is only where the advantage is in the capital field that the expenditure would be disallowable on an application of this test ... acquire any capital assets as a result of the expenditure in question and that there was not change in the capital structure; the pipelines
commercial activities of a sort, for which it had got a capital structure, profit and liabilities and labour force to care for. The Board
norms which may be adopted in respect of the capital structure and debt-equity ratio that may be maintained by the various classes
share capital is below Rs. 10,00,000 and at the rate of Rs. 600 per annum where the paid up share capital is above ... shares of the listed company;
(ii) render advice regarding capital structure, underwriting by members of the stock exchange, act as brokers, etc.
Listed companies will
something which is often losely spoken of as 'capital'. But capital, though possibly the source in the case of income from securities ... assessee. Shares are floated with a view to strengthen the capital structure.
15. Sri Bhat, the learned counsel for the assessee, tried to take support
norms which may be adopted in respect of the capital structure and debt-equity ratio that may be maintained by the various classes
