Supreme Court · 1997 INSC 203 · Decided 27 February 1997
Brooke Bond India LTD. v. Commissioner of Income Tax, West BENGAL-III.
- Court
- Supreme Court of India
- Citation
- 1997 INSC 203 · [1997] 2 S.C.R. 524
- Case number
- CIVIL APPEAL No. 5771/1983
- Decided
- 27 February 1997
- Bench
- S.C. AGRAWAL, G.B. PATTANAIK (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 37(1), 261
Headnote
Income Tax Act, 1961-Section 37(1)--Whether expenditure incu"ed for issuing shares for expanding capital base can be treated as revenue expen­ diture and therefore allowed as a deductible expense-Held : Expenditure C incumd for issuing shares to expand capital base with the object of fore not a deductive expense. The assessee, a public limited company, claimed deduction for the expenditure incurred by it for issuing shares with a view to increase its D share capital for the assessment year 1969-70. The deduction was disal­ lowed by the Income Tax Ollicer on the
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