Held that out of the total expenses claimed by the assessee under section 35D only a small sum qualified as capital expenditure incurred on increase of the share capital and Balance representing one-Fifth Of preliminary expenses is allowed. Order of CIT(A) is affirmed.(AY.2011-12)
Dy. CIT v. Aatash Narcontrol Ltd. (2023)103 ITR 334// 149 taxmann.com 157 (Ahd)(Trib)
S. 35D : Amortisation of preliminary expenses-Only small amount as capital expenditure-Balance representing one-Fifth Of preliminary expenses is allowed. [S. 37(1)]