This filing fees was paid to enhance financial business
of IREDA and was fully allowable. Accordingly, the filing fees
paid to ROC is required ... being 100% tax sought to be evade on ROC fees
of Rs.64,00,000/- paid for increasing the authorized share
capital.
In this regard
ground, the assessee submits that
the expenditure incurred towards payment of ROC fees was
allowable as a deduction ... justified in enhancing the addition by disallowing the
entire amount of ROC fees in this year.
12] The appellant craves leave to add, alter, amend
amount of Rs.7,93,340/- was paid on account
of ROC fees for increase in authoriszed capital. As per the provision ... 3906/Ahd/2008 (3 appeals)
9
section 35D, such payment of ROC fees for increase in the authorized
capital is not a deductible expenditure
claimed
as expenditure incurred on filing fee - ROC which was with respect to increase
in authorized share capital of the assessee company ... reference, the Company has incurred Rs.708,800
charged to Filing fee ROC in the Profit and Loss Account, the detail of the same
present case, we
hold that the assessee placed claim of ROC fee expenses which was disallowed
by the AO. Subsequently, the AO proceeded to levy ... wrong premise merely because the claim of the assessee towards
ROC fees was not found to be acceptable by the revenue. At the same time
with a huge share premium only to reduce the incidence of ROC fee
which is attracted when shares are allotted at par.The ld. Counsel
various details and
Assessing Officer completed assessment after making disallowances of
ROC fees, GDR issue expenses and disallowance
disallowances:
Sl. No. Nature of disallowance Amount (Rs. )
1. Disallowance of ROC fees Rs. 6,00,000/-
2. Charging of notional interest on security deposit ... deletion of disallowance of Rs. 6 lacs made on account of
ROC Fees.
GROUND NO. 1.
5 The facts in brief are that the Assessing
account of
fee paid to ROC, disallowance of claim of depreciation, disallowance of
Umaid Bhawan Palace Project cost written off and disallowance of other
expenses ... willfully furnished inaccurate particulars of
its income; that the claim of ROC fee was made by the assessee whereas the
same is not admissible
that
addition was made on the following grounds:-
(i) Claim of ROC fees
(ii) Loss on exchange variation
(iii) Reversal of provisions of sales ... found that the addition made with regard to claim of - (i) ROC fees;
(ii) loss on exchange variation; (iii) reversal of provisions of sales
