Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Stamp duty and registration charges incurred for executing a lease deed may constitute revenue expenditure where the arrangement grants only a right to occupy, use, and commercially exploit property during the lease term, rather than ownership or an independent capital asset. The expenditure is deductible in full in the year when the lease rights and obligations crystallise; later registration does not change its character or timing. On the stated facts, the stamp duty was therefore allowable in A.Y. 2011-12. Because the full amount was deductible in that year, it could not subsequently be capitalised, amortised over the lease term, or subjected to depreciation, making later-year depreciation claims unsustainable.
Stamp duty and registration charges incurred for executing a lease deed may constitute revenue expenditure where the arrangement grants only a right to occupy, use, and commercially exploit property during the lease term, rather than ownership or an independent capital asset. The expenditure is deductible in full in the year when the lease rights and obligations crystallise; later registration does not change its character or timing. On the stated facts, the stamp duty was therefore allowable in A.Y. 2011-12. Because the full amount was deductible in that year, it could not subsequently be capitalised, amortised over the lease term, or subjected to depreciation, making later-year depreciation claims unsustainable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4786
Join Channel
TaxTMI 
