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Stamp duty paid to increase authorised capital is capital expenditure

January 15, 2016[2016] 65 taxmann.com 94 (Mumbai)/[2016] 45 ITR(T) 57 (Mumbai)/[2016] 156 ITD 727 (Mumbai)/[2016] 177 TTJ 269 (Mumbai)
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IT : Contracts for derivatives in foreign currency are commodity as defined under section 43(5), underlying assets being foreign currency and, hence, are entitled for exemption from being treated as speculative, provided all other conditions as stipulated under section 43(5) are complied with

IT : Stamp duty or fees paid to Ministry of Corporate Affairs towards increase in authorised capital of company would be considered as capital expenditure

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