Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2013 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (12) TMI 309 - HC - Income TaxProvisions on ascertained liability - Held that:- The Tribunal on examining each of the contract entered into between the respondent-assessee and its clients has recorded a finding of fact with regard to the provisions made and determined that some of the provisions are made on the basis of ascertained liabilities, while others are not - The Tribunal on the basis of the results of its examination of the facts allowed the provisions made to the extent they were ascertained in nature and disallowed those which were made on the basis of the estimates - Decided against Revenue. Software development expenses - Held that:- The expenses were in the nature of software maintenance expenses - These expenses cannot result in any benefit of enduring nature so as to be called capital expenses - Decided against Revenue.
|