ITAT Disallows ROC Expenses incurred for Issuance of Share Capital
CA Pratibha Goyal | May 2, 2022 |
ITAT Disallows ROC Expenses incurred for Issuance of Share Capital
The Income Tax Appellate Tribunal (The “ITAT”) in the matter of Suzuki Suiting Pvt. Ltd. pronounced that ROC expenses incurred for issuing share capital shall be disallowed. The same was disallowed holding it to be capital in nature.
The Ld. Counsel for the assessee (Shri S. N. Divetia) could not controvert the above and fairly admitted that the disallowance had been rightly made.
Relevant Extract:
8. Ground No.3.1 relates to disallowance of ROC expenses amounting to Rs 2 lacs incurred for issuing share capital. The same was disallowed holding it to be capital in nature.
9. The Ld. Counsel for the assessee could not controvert the above and fairly admitted that the disallowance had been rightly made.
9.1 In view of the above ground of appeal No.3.1 is dismissed
The Pronouncement was made by T.R. Senthil Kumar (Judicial Member) and Annapurna Gupta (Accountant Member)
To Read Judgement Download PDF Given Below:
In case of any Doubt regarding Membership you can mail us at [email protected]
Join Studycafe's WhatsApp Group or Telegram Channel for Latest Updates on Government Job, Sarkari Naukri, Private Jobs, Income Tax, GST, Companies Act, Judgements and CA, CS, ICWA, and MUCH MORE!"
