Dismissing the appeal of the revenue the court held that; expenses incurred on issue of public subscription of shares or of debentures of the company, any payment made against commission, brokerage and charges for drafting, typing, printing and advertisement of the prospectus would be eligible for benefit.( AY.1993 -94)
CIT v. Phonex Lamps India Ltd. (2018) 406 ITR 550 (All) (HC)
S. 35D : Amortisation of preliminary expenses -Expenses incurred on issue of public subscription of shares or of debentures of the company, any payment made against commission, brokerage and charges for drafting, typing, printing and advertisement of the prospectus would be eligible for benefit.