ITAT – Spandana Sphoorty Financial Ltd. v. DCIT
[2022] 141 taxmann.com 242 (Hyderabad – Trib.) – NBFC converted Debt into Pref. Sh. under CDR and increased authorised Cap – AO treated ROC exp. as Capital Exp. As the exp is related to the capital increase – only the existing debts were restructured where CCPS were issued – ITAT allowed on the grounds that…