Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights January 2021 Year 2021 This

Disallowance on account of stamp duty charges of lease agreement ...

Case Laws     Income Tax

January 20, 2021

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

View Source

 


 

You may also like:

  1. The case pertains to the applicability of Section 43CA, which deals with the adoption of stamp duty value as the full value of consideration for computing profits and...

  2. Disallowance of prior period expenses pertaining to expenditure crystallized or details received after completion of earlier years' audits. Genuineness not doubted,...

  3. Aircraft lease charges - lease charges were to include maintenance charges and AIL was under obligation to maintain and repair the aircrafts as part of the lease...

  4. The appeal challenges the liability to pay stamp duty and penalty on agreements executed prior to the sale deed for two properties. The court determined the real...

  5. 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...

  6. Addition on account of lump-sum lease charges received - lease transaction does not give an absolute ownership or title as it can be cancelled and re-entered - assessee...

  7. Disallowance on account of lease equalization – if the annual leasing charge is equivalent to 30% of the value of leased assets, the assessee would debit its P&L account...

  8. Concession agreement constitutes a lease u/s 105 of the Transfer of Property Act, 1882 and Section 2(16) of the Indian Stamp Act, 1899. Stamp duty payable on the amount...

  9. Amendment of section 50C - stamp value - where the date of the agreement fixing the amount of consideration and the date of registration for the transfer of the capital...

  10. The High Court correctly distinguished between the jurisdiction vested in every person or public office and the District Registrar in determining penalty on...

  11. Claim of deduction - lease equalization charge - After referring to the Guidance Note on Accounting for Leases, revised in the year 1995, Supreme Court held that method...

  12. The order dealt with maintainability of petition, liability to pay stamp duty on NCLT order, applicability of res judicata principle, interpretation of fiscal laws,...

  13. Refund of stamp duty - Stamp papers purchased for registration of immovable property but the same could not be executed - The denial of refund of the stamp duty...

  14. Waiver of demurrage charges - The period during confiscation, charges have been waived, therefore, for the remaining period the petitioner is duty bound to pay the duty...

  15. Deduction of lease equalization charges from lease rental income - lease equalization charges is a method of re-calibrating the depreciation – we cannot find fault with...

 

Quick Updates:Latest Updates