[1966] 60 ITR 52 (SC) SUPREME COURT OF INDIA India Cements Ltd. v. Commissioner of Income-tax K. SUBBA RAO, J.C. SHAH AND S.M. SIKRI, JJ. CIVIL APPEAL NO. 1106 OF 1964 DECEMBER 8, 1965 A.V. Viswanatha Sastri, R. Venkataraman and R. Gopalakrishnan for the Appellant. S.T. Desai, Gopal Singh, B.R.G.K. Achar and R.N. Sachthey for… Read More »
Stamp duty payment allowed as revenue expenditure The Gujarat High Court held that the amount of stamp duty is allowed as revenue expenditure because the stamp duty paid by the taxpayer during the year was a compulsory statutory levy; would not restrict the profits of the future years; and was an ordinarily revenue expenditure incurred… Read More »
Held We have observed that Hon’ble Supreme Court in the case of Brooke Bond India Ltd. (supra) and Punjab State Industries Development Corpn. Ltd. (supra) has clearly held that these stamp duties/fees to Ministry of Corporate Affairs , GOI paid towards the increase in authorized capital of the company is held to be for expansion… Read More »