Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: empanelment :: form 3cd :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: list of goods taxed at 4% :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: ACCOUNTING STANDARD :: cpt
 
 
« News Headlines »
 How will the new provisions really work?
 How to save income tax? Best tips for young earners
 Forgot to verify your income tax return? Here's help
 Notification of Government e-Marketplace (GeM) under section 138 of the Income-tax Act
 Income tax returns can be filed even if you missed deadline
 What is the difference between a tax return and a tax refund?
 Improving tax compliance in India
 How to invest in the new LTCG tax regime
 5 Tips to help you save tax
 Why to file income tax return?
  Income Tax For Individuals – Assessment Year 2019–20

Expenses on bonus shares is revenue expenditure, rules SC
October, 03rd 2006
The Supreme Court has ruled that expenditure incurred in the process of issuing bonus shares is a revenue expenditure and the company is eligible to avail of tax benefits while filing returns. While hearing an appeal filed by the commissioner of income tax for disallowing tax breaks claimed by General Insurance Corporation, the apex court Bench observed: The issue of bonus shares leaves the capital employed unchanged and does not result in conferring an enduring benefit to the company and the same has to be regarded as revenue expenditure. The Bench, comprising Justice Ashok Bhan and Justice Markandey Katju, said: Issuance of bonus shares by capitalisation of reserves is merely a reallocation of a companys funds. There is no inflow of fresh funds or increase in the capital employed, which remains the same. The issue before the court was whether the expenditure incurred in connection with the issuance of bonus shares is a capital expenditure or revenue expenditure. GIC, which has four subsidiaries, filed a return of Rs 58.52 crore along with the audit report for the assessment year 1991-92. However, the assessing officer disallowed a few expenses incurred as revenue expenditure to the tune of Rs 1.4 crore incurred toward stamp duty and registration fees paid in connection with the increase in authorised share capital.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions