https://www.taxtmi.com/caselaws?id=17477 Stamp duty paid for renewal of a mining lease was treated as revenue expenditure deductible under section 37 because the renewal clause in the original lease deed gave only a contractual right to seek renewal, and the payment was made in exercising that right rather than to acquire any new asset or enduring advantage. The expenditure was linked to the carrying on of the business and was tested on business necessity and expediency, with departmental guidance on deduction of legal expenses for lease renewal also supporting the allowance. en-us Wed, 25 Sep 1996 00:00:00 +0530 Tue, 22 Sep 2009 15:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17477 Stamp duty paid for renewal of a mining lease was treated as revenue expenditure deductible under section 37 because the renewal clause in the original lease deed gave only a contractual right to seek renewal, and the payment was made in exercising that right rather than to acquire any new asset or enduring advantage. The expenditure was linked to the carrying on of the business and was tested on business necessity and expediency, with departmental guidance on deduction of legal expenses for lease renewal also supporting the allowance. Case-Laws Income Tax Wed, 25 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17477