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Documents citing Hindu Bank Karur Ltd. vs Additional Commissioner Of Income-Tax on 25 April, 1975

Indian Acrylics Ltd.,, Chandigarh vs Assessee on 25 May, 2009

24 Ground No. 6 - After hearing both the parties we find that during assessment proceedings the AO noticed that the assessee has debited a sum of Rs. 12,50,000/- for fees paid to the Registrar of Companies for filing of Form 5 for increase of authorized capital from 125 crore to 150 crore. In response to the query it was mainly explained that the fees was paid for the purpose of existing business and not for the new business. The share capital was required to be increased to meet the stipulation of financial institutions under the Corporate Debt Restructuring (CDR) scheme. Reliance was placed on the decision of Hon'ble Karnataka High Court in case of Hindustan Machine Tools Ltd. Vs. CIT, 175 ITR 220 (Kar) and Federal Bank Ltd Vs. CIT, 180 ITR 241 (Ker).
Income Tax Appellate Tribunal - Chandigarh Cites 23 - Cited by 0 - Full Document
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