https://www.taxtmi.com/caselaws?id=28789 The court ruled in favor of the assessee, determining that the amount spent on stamp papers and registration fees for a mortgage deed was revenue expenditure under section 37 of the Income-tax Act, 1961. The expenditure was considered to be for the purpose of the business, including asset protection, and not for acquiring a capital asset. The court relied on precedents to support its decision, emphasizing that the distinction between capital outlay and business expenditure under English law does not apply to the Indian Income-tax Act. The Revenue's contention was rejected, and the court found no fault in the Tribunal's decision. en-us Thu, 30 Sep 1982 00:00:00 +0530 Thu, 25 Feb 2010 16:17:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28789 The court ruled in favor of the assessee, determining that the amount spent on stamp papers and registration fees for a mortgage deed was revenue expenditure under section 37 of the Income-tax Act, 1961. The expenditure was considered to be for the purpose of the business, including asset protection, and not for acquiring a capital asset. The court relied on precedents to support its decision, emphasizing that the distinction between capital outlay and business expenditure under English law does not apply to the Indian Income-tax Act. The Revenue's contention was rejected, and the court found no fault in the Tribunal's decision. Case-Laws Income Tax Thu, 30 Sep 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28789