1983 (12) TMI 54

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.... in compliance with the directions given by this court under s. 256(2) of the I.T. Act, 1961 (hereinafter referred to as " the Act "), and poses the following question for the opinion of this court: " Whether, on the facts and in the circumstances of the case, the Tribunal was legally correct in directing the Income-tax Officer to exclude the portion of a sum of Rs. 5,977 on account of stamp du....

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....espect of the lease were to be borne by the assessee and M/s. Voltas Ltd., equally. A sum of Rs. 11,953 was spent towards these charges and the assessee's half share therein came to Rs. 5,977. The assessee claimed this sum of Rs. 5,977 as a deduction from its gross annual rental value. The ITO disallowed the claim of the assessee and the same was upheld in appeal by the AAC. The assessee went i....

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....rpose of earning the income of Rs. 6,100 per month and that the concept of the determination of the annual letting value meant to secure a fair rent. The Tribunal in this view of the matter allowed the deduction of this expenditure of Rs. 5,977 from the gross rent in order to arrive at the reasonable annual letting value. The annual value of the property, which is the subject of charge, was ori....

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....lature has used the word " namely " and this shows that the heads of expenditure wherefor deduction can be claimed are exhaustive. The expenses incurred in providing the proper stamp paper in the case of a lease or agreement to lease is by virtue of the provisions contained in s. 29 of the Indian Stamp Act, 1899, and is on the lessee or intended lessee, in the absence of an agreement to the contra....