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Company cannot Reclassify Expenditure as Revenue if Initially Claimed as Capital in Books: Madras HC [Read Order]
In a recent ruling, the Madras High Court ruled that a company cannot reclassify an expenditure initially recorded as capital in its books of...
![Issue of Share Capital through QIP with Qualified Institutional Buyers are Public Subscription: ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Issue-of-Share-Capital-through-QIP-Share-Capital-Qualified-Institutional-Qualified-Institutional-buyers-Public-Subscription-ITAT-directs-Re-adjudication-ITAT-Re-adjudication-taxscan.jpg "Issue of Share Capital through QIP with Qualified Institutional Buyers are Public Subscription: ITAT directs Re-adjudication [Read Order]")
![Penalty Imposed u/s271(1)(c) of Income Tax Act without Application of Mind: ITAT Set asides Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Income-Tax-Section-2711c-of-Income-Tax-Act-Application-of-mind-Deduction-claim-set-aside-order-ITAT-income-tax-act-income-tax-without-application-of-mind-taxscan.jpg "Penalty Imposed u/s271(1)(c) of Income Tax Act without Application of Mind: ITAT Set asides Order [Read Order]")
![Amortization of Expenses u/s 35 D to be Allowed Only on Satisfying the Prescribed Conditions: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Amortization-Of-Expenses-Conditions-ITAT-TAXSCAN.jpg "Amortization of Expenses u/s 35 D to be Allowed Only on Satisfying the Prescribed Conditions: ITAT [Read Order]")
![IT Deduction not available to Payment to ROC for Enhancement of Authorized Share Capital: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/07/Share-Capital-ITAT-Taxscan.jpg "IT Deduction not available to Payment to ROC for Enhancement of Authorized Share Capital: ITAT [Read Order]")
Preliminary Expenditure incurred on Public Issue is Capital in Nature, Not Deductible from Income Tax: SC [Read Judgment]
In CIT v. M/s Raghuvir Synthetic Ltd, the two-judge bench of the Supreme Court categorically held that preliminary expenditure incurred on public issue is capital in nature and this, being a settled...
![Preliminary Expenditure incurred on Public Issue is Capital in Nature, Not Deductible from Income Tax: SC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/08/Supreme-Court-of-India-Taxscan.jpg "Preliminary Expenditure incurred on Public Issue is Capital in Nature, Not Deductible from Income Tax: SC [Read Judgment]")