Whether input tax credit is allowed on expenses incurred on buy-back of shares ?
Issue Favourable to Tax Payer ?:- yes
Held - We have heard the rival submissions and perused the material on record. The Hon'ble High Court of Karnataka in the case of CIT v. Motor Indu.....
Issue Favourable to Tax Payer ?:- yes
Held - The increase in the capital results in expansion of the capital base of the company and incidentally that would help in the business of the .....