https://www.taxtmi.com/circulars?id=8707 Expenditure incurred in connection with borrowing money - including stamp duty, registration fees and lawyer's fees - is allowable as revenue expenditure when borrowing is incidental to the carrying on of business under section 37(1). The Board has withdrawn the earlier circular that conflicted with the Supreme Court's decision, by issuing Instruction No.187/CBDT dated 6-7-1970, thereby aligning departmental guidance with the Court's ruling. en-us Mon, 06 Jul 1970 00:00:00 +0530 Wed, 25 May 2011 16:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8707 Expenditure incurred in connection with borrowing money - including stamp duty, registration fees and lawyer's fees - is allowable as revenue expenditure when borrowing is incidental to the carrying on of business under section 37(1). The Board has withdrawn the earlier circular that conflicted with the Supreme Court's decision, by issuing Instruction No.187/CBDT dated 6-7-1970, thereby aligning departmental guidance with the Court's ruling. Circulars Income Tax Mon, 06 Jul 1970 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8707