Preliminary expenses incurred for increase in authorized capital is capital in nature. (AY. 2007-08, 2008-09)
ACIT (OSD) v. M.S. Khurana Engineering Ltd. (2024) 206 ITD 741 (Ahd) (Trib.)
S.37(1): Business expenditure-Capital or revenue-Share issue expenses-Preliminary expenses incurred for increase in authorized capital is capital in nature. [S. 35D]