Stamp duty on lease deed for carrying on of business allowable

Fiserv India Private Limited Vs ACIT (ITAT Delhi) In the present case the facts says that stamp duty was payable for the lease of a business premises at sector 62, Noida which were taken on lease from Galaxy Mercantile Ltd. The stamp duty was paid in accordance with The Stamp Duty Act 1899, being a statutory levy for registering of the lease deed. The issue is whether the stamp duty paid by the assessee for registering the lease deed, though for 10 years, is revenue expenditure or not. The issue is squarely covered in favour of the assessee by the decision of the Honourable Bombay High Court i...