https://www.taxtmi.com/caselaws?id=436444 Stamp duty and registration charges borne by a real estate seller under the sale deed were treated as business expenditure incurred wholly and exclusively for the purposes of the business and therefore allowable as a deduction. Section 43CA was held inapplicable where the properties were sold at the stamp valuation and the full consideration stated in the sale deeds was received, so no sustainable addition arose on an alleged shortfall. The buyer was not presumed liable for stamp duty in the face of a contrary agreement, since section 29 of the Indian Stamp Act makes buyer liability subject to contractual allocation. The variation was also within the 10% tolerance band. en-us Mon, 10 Apr 2023 00:00:00 +0530 Thu, 13 Apr 2023 07:59:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436444 Stamp duty and registration charges borne by a real estate seller under the sale deed were treated as business expenditure incurred wholly and exclusively for the purposes of the business and therefore allowable as a deduction. Section 43CA was held inapplicable where the properties were sold at the stamp valuation and the full consideration stated in the sale deeds was received, so no sustainable addition arose on an alleged shortfall. The buyer was not presumed liable for stamp duty in the face of a contrary agreement, since section 29 of the Indian Stamp Act makes buyer liability subject to contractual allocation. The variation was also within the 10% tolerance band. Case-Laws Income Tax Mon, 10 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436444