Stamp Duty Charges on Five-Year Lease Agreement Deemed Allowable as Revenue Expenditure by Court.

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Full Text of the Document

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....Disallowance on account of stamp duty charges of lease agreement pertaining to lease period of five years - Stamp duty was required to be paid in order to bring about document of Lease. Expenses so incurred for securing premises on lease for a short period of five years were, therefore, allowable as revenue expenditure - - AT....