Berger Paints India Ltd vs CIT

Authority: Supreme Court Date: 2017-03-28 AY: 1996-97, 1997-98 Section: 1431B), 143(2), 35D, 35D(3), 260A, 35D(3)(b), 159, 78 Acts: Income Tax Act 1961, Companies Act Result: Revenue Citation: 417Taxpundit16 Justices: R.K. AGRAWAL & ABHAY MANOHAR SAPRE Appeal No: CIVIL APPEAL No.2162 OF 2007
Whether premium collected by a company on its subscribed share capital constitutes 'capital employed in the business of the company' within the meaning of Section 35D of the Income Tax Act 1961 for claiming deduction of preliminary expenses --- Held No.

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