Vazir Sultan Tobacco Co. Ltd. vs Commissioner Of Income Tax
Whether expenditure incurred for raising additional capital by issuing ordinary shares is deductible as revenue expenditure under section 37(1) of the Income Tax Act, 1961 --- Held No. Whether surtax payable under the Companies (Profits) Surtax Act, 1964 is deductible as business expenditure under section 37 or section 28 of the Income Tax Act, 1961 --- Held No.
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