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1 - 8 of 8 (0.18 seconds)Section 32 in The Income Tax Act, 1961 [Entire Act]
Brooke Bond India Limited vs Commissioner Of Income Tax,West ... on 27 February, 1997
Above referred judgment was
followed by the Apex Court in Brooke Bond
India Ltd. Vs. CIT (supra) and took the view
that expenditure incurred by the company in
connection with issue of shares with a view
to increase its share capital, is directly
related to the expansion of the capital base
of the company, and is capital expenditure,
even though it may incidentally help in the
Page 6 of 8
O/TAXAP/314/2002 JUDGMENT
business of the company and in the profit-
making.
Section 30 in The Income Tax Act, 1961 [Entire Act]
Section 31 in The Income Tax Act, 1961 [Entire Act]
Britannia Industries Ltd vs Commissioner Of Income Tax,West ... on 5 October, 2005
6. Insofar as question no.2 is concerned, the
same is also concluded by a decision of this
Court passed in Tax Appeal No.481/1999 & 482/1999
decided on 02.07.2009. The observation s made in
Paras - 7 to 9 of the said decision are relevant
and it reads as under;
Section 260A in The Income Tax Act, 1961 [Entire Act]
India Cements Ltd., Madras vs Commissioner Of Income-Tax, Madras on 8 December, 1965
8. Apex Court in India Cements Ltd. Vs. CIT,
Madras (supra), held that the loan obtained
is not an asset or advantage of an enduring
nature, but obtaining capital by issuance of
shares is different from obtaining loan by
debentures.
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