Stamp duty on 10-year business lease ruled as revenue expenditure u/s 37(1) of Income Tax Act.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Nature of stamp duty paid in relation to the leased business premises - Revenue or capital expenditure - lease was for a period of 10 years - The same is not a deferred revenue expenditure - AO directed to allow the stamp duty charges paid by the assessee as an expenditure for the current year holding it to be revenue expenditure in nature allowable u/s 37(1).....