ITAT directs to allow Stamp Duty & Registration Charges Incurred to Transfer as per Scheme of Arrangement approved by NCLT [Read Order]
The ITAT stated that when the income of the assessee is chargeable under the head capital gains qua the years in which transfers were affected, the expenses about the transfer, crystallized later on but as per the scheme of arrangement it has to be allowed.
The Income Tax Appellate Tribunal (ITAT) directed to allow the stamp duty and registration charges after due verification. It was viewed that when the assessee has incurred the amount in question to complete the transfer as per the scheme of arrangement approved by the NCLT, without which the transfer could not have been effected. M/s….
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