https://www.taxtmi.com/forum/issue?id=118229 Whether stamp duty and registration charges paid on partnership reconstitution are deductible under Section 37 depends on whether they are revenue expenditure wholly incurred for the business and not capital in nature. Respondents note that recurring expenditures incidental to buying and selling plots are ordinarily revenue, one citing a Karnataka High Court decision (following Supreme Court authority) treating such charges as revenue expenditure, and advise that stamp duty and registration on reconstitution may be claimed as revenue depending on the factual matrix. en-us Mon, 14 Nov 2022 15:21:58 +0530 Thu, 23 Jan 2025 15:54:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118229 Whether stamp duty and registration charges paid on partnership reconstitution are deductible under Section 37 depends on whether they are revenue expenditure wholly incurred for the business and not capital in nature. Respondents note that recurring expenditures incidental to buying and selling plots are ordinarily revenue, one citing a Karnataka High Court decision (following Supreme Court authority) treating such charges as revenue expenditure, and advise that stamp duty and registration on reconstitution may be claimed as revenue depending on the factual matrix. Discussion-Forum Income Tax Mon, 14 Nov 2022 15:21:58 +0530 https://www.taxtmi.com/forum/issue?id=118229