Cost incurred in acquisition of shares of Co. can’t be treated as a cost of project for Sec. 35D deduction : HC

INCOME TAX : Acquisition of companies by acquiring 100 per cent subsidiary shares would not be construed as acquisition of fixed assets that were acquired or developed in connection with extension of industrial undertaking or setting up of new industrial unit of assessee, thus, cost incurred in acquisition of companies could not be claimed as deduction under section 35D

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