Expenses incurred for Buy-Back of Shares amount to ‘Revenue Expenditure’: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore bench has recently held that the expenses incurred by the Company for the buy-back of shares would amount to “revenue expenditure” for the purpose of the Income Tax Act, 1961. The Assessing Officer noted that during the relevant assessment year, the assessee had spent a sum of Rs.8,90,961 […]

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