Tribunal held that since activity of assessee only commenced on making investments by acquisition of shares of a company, expenditure incurred by assessee for raising its authorized share capital before commencement of its business was eligible for deduction. (AY. 2014-15)
Addlife Investments (P.) Ltd. v. DCIT DCIT (2020) 84 ITR 343 / (2021) 187 ITD 591/ 211 TTJ 581(Ahd.) (Trib.)
S. 35D : Amortisation of preliminary expenses-Raising authorised capital-Eligible for deduction.