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Section 24 of the income-tax act, 1961-Income from house property-Deductions-Assessee-firm leased out property and, as per agreement, it incurred expenditure towards stamp duty and registration charges-Whether impugned expenditure was allowable as a deduction in assessing annual value of the property-Held, on facts, no Facts The assessee-firm owned some property which was given on leas e to a company. The lease deed provided that the stamp duty and registration charges in respect of the lease were to be borne by the lessee and the assessee-company equally. The claim of the assessee for deduction of Rs. 5,977, i.e., its half share of stamp duty, etc., was disallowed by the ITO. The AAC upheld the ITO's order. On further appeal, the Tribunal, however, allowed the assessee's claim. On reference : Held Section 24 provides that income chargeable under the head 'Income from house property' shall, subject to the provisions of sub-section (2), be computed after making the deductions specified therein. The legislature has used the word 'namely' therein and this shows that the heads of expenditure where for deduction can be claimed are exhaustive. If a particular type of expenditure is not specifically provided to be deductible, deduction cannot be claimed from out of the annual value. Neither section 23 nor section 24 provides for the deduction of the expenses incurred towards the Stamp duty or registration charges in respect of the lease. Accordingly, the assessee was not entitled to the deduction of impugned stamp duty and registration charges while computing the annual value of the properties in question. IT REFERENCE NO. 279 OF 1975. G.C. Lalwani for the Applicant. JUDGMENT CHADHA, J.-This reference was in compliance with the directions given by this Court under section 256(2) of the, Income-tax Act, 1961 ('the Act'), and poses the following question for the opinion of this Court: "Whether, on the facts and in the circumstances of the case, the Tribunal was legally correct in directing the Income-tax Officer to exclude the portion of a sum of Rs. 5,977 on account of stamp duty, etc., to arrive at the annual letting value of the property ?" 2. The assessee is a…

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