Held that \u00a0the Commissioner (Appeals) held that the initial public offer expenses were covered under the provisions of section\u00a035D(2)(c)(iv)\u00a0of the Act and that the funds raised by the assessee were for long-term objectives and that the assessee was eligible to claim the deduction under section\u00a035D\u00a0of the Act over a period of five years. The assessee\u2019s claim to deduction of the entire expenses amounting to Rs. 1,95,00,000 was rejected by the Assessing Officer and the Commissioner (Appeals) as excess claim and the assessee was allowed to claim only one-fifth of the initial public offer expenses under section\u00a035D\u00a0and the remaining amount was to be amortised in subsequent years. The addition amounting to Rs. 1,56,00,000 as excess deduction under section\u00a035D\u00a0was justified. (AY.2013-14)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 35D : Amortisation of preliminary expenses-Expenses on initial public offer-Eligible deduction over five years.[S. 37(1)] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-35763","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-9iP","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/35763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=35763"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/35763\/revisions"}],"predecessor-version":[{"id":35764,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/35763\/revisions\/35764"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=35763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=35763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=35763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}