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Supreme Court: Companies Cannot Claim 'Premium' Received on Shares as 'Deduction' - (29 Mar 2017)

Supreme Court has held that premium collected by companies on its subscribed share capital does not come within the ambit of “capital employed in business of company” as given under section 35D of Income Tax Act, 1961 and hence a company cannot claim “premium” received on shares as deduction.

Tags : SUPREME COURT  INCOME TAX ACT   COMPANY  

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