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2011 (11) TMI 443 - HC - Income TaxExpenditure incurred on Corporate Membership, ISO Certification, Repair & Maintenance of leased Premises - Capital or Revenue expenditure - Held That:- Such expenditure is of revenue nature - Decided in favor of assessee. Fluctuation in foreign exchange receipts - Income from other sources or Business Income - assessee contended that exchange rate fluctuation should be taken into consideration for computing Section 80HHE deduction - Held That:- Fluctuation in the valuation of currency which has to be converted to foreign currency has direct nexus to the export of software and can never be included as income from other sources - Decided in favor of assessee.
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