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Special adhesive stamps expenses incurred for assignment of receivables is revenue expenditure: ITAT

October 5, 2020[2020] 120 taxmann.com 33 (Mumbai - Trib.)

INCOME TAX : Where assessee had incurred expenditure for cost of adhesive stamp in connection with conveyance deed for assignment of receivables in connection with acquisition of an industrial unit, since said assignment was for facilitating recovery of receivables by assessee, thus, same was for business of assessee, same was to be allowed as business expenditure under section 37(1)

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