Section 35D of Income-tax Act – Premium collected by assessee on issue of its share capital has to be excluded for purpose of determining amount of capital employed in business of company while computing deduction under section 35D(3)

CASE LAWS DETAILS

DECIDED BY: ITAT DELHI BENCH `A’: NEW DELHI,

IN THE CASE OF: DCIT Vs. Axis & T. Ltd., APPEAL NO: I.T.A. Nos. 211 & 823/Del/2010, DECIDED ON July 29, 2010

In the present assessee’s case, it is nobody’s case that the premium collected by the assessee company on the issue of shares is a long-term borrowing within

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