Listing fees paid to stock exchange cannot be treated as capital expenditure

DCIT Vs Great Eastern Energy Corporation Ltd. (ITAT Delhi) In the present case, the appellant has shifted its global depository receipt exchange from AIM London stock exchange to the main market London stock exchange without increasing any capital but to provide a bigger platform to global depository receipt holders to trade their holding. The learned assessing officer has not shown that there is any increase in the capital base of the assessee. The learned CIT – A has allowed the claim of the assessee relying upon the decision of the honourable Gujarat High Court in case of CIT vs. Alembic ...