Stamp Duty to obtain Business Premises on Lease is Revenue Expense

Fiserv India Private Limited Vs ACIT (ITAT Delhi) The issue under consideration is whether the stamp duty paid for obtaining the business premises on lease is deductible under section 37 of the Income Tax Act, 1961? In the present case, the assessee paid stamp duty for the lease of 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, is a statutory levy for registering of the lease deed. During the assessment proceedings, the Assessing Officer noted that the stamp duty paid by the assesse...