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Filing Fee for Increased Share Capital Classified as Revenue Expenditure: ITAT Upholds AO’s Decision

Update / Judgement Date

24 Oct 2024

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Corporate ComplianceIncome Tax

The ITAT upheld the Assessing Officer's (AO) decision that filing fees for an increased share capital should be classified as revenue expenditure, not capital expenditure. This decision aligns with existing legal principles that treat such fees as recurring costs necessary for the functioning of the company.