INCOME TAX : Where assessee-company received share application money for allotment of cumulative redeemable preference shares and as allotment was not made within specified period, assessee paid interest at rate of 8 per cent from date of receipt of share capital money and claimed aforesaid amount as business expenditure, since increase in capital resulted in expansion of capital base of company and may also help in profit making, said expenditure was capital expenditure
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