The Assessing officer disallows the regn exp. in the hands of the byuer of a land,since as per the stamp act,the regn exp is to be borne by the seller and not the buyer. Is he correct.If not please send me any case law relating to this.
CA Anil Patro
I THINK-
REGISTRATION EXPENSES & STAMP DUTY IS THE LAIBILITY OF BUYER OF LAND.
SO, IF YOU ARE INDIVIDUAL ASSESSEE THEN YOU CAN CLAIM DEDUCTION UNDER SECTION 80C.
& IF YOU ARE BUILDER THEN REGISTRATION FEES WILL APPEAR IN YOUR DEBIT SIDE OF P & L ACCOUNT.
R P S K & Associates
Nashik
CA Inter
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