Stamp duty expense on IPO allowable under section 35D

CIT Vs Onmobile Gobal Ltd. (Karnataka High Court)

Whether, the Tribunal was justified in law in holding that the expenditure incurred in connection with the issue of IPO inter alia stamp duty is an allowable expenditure under section 35D of the I.T. Act despite the ruling of Apex Court in the case of General Insurance Corporation V/s. CIT (reported in 286 ITR page 232)?

Question of law pertains to the claim of the assessee with regard to stamp duty for an amount of Rs.6,87

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