Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (5) TMI 164 - AT - Income TaxRepair and maintenance of premises taken on lease - to be treated as revenue expenditure or capital expenditure? - Held that: - the premises in which the repairs and maintenance were carried out by the assessee were taken on rent and it would be against the basic principle of accountancy and provision of law to treat the said expenditures incurred on repairing and maintenance as capital nature - appeal allowed. Addition on account of unclaimed credit balances - Held that: - The ld. AR submitted before us that the said amounts were to be adjusted in the subsequent years and were actually adjusted and therefore should not be added to the total income of the assessee. In our opinion, this matter requires fresh verification at the end of the AO and therefore the same is being remanded to the file of the AO - matter on remand. Advances written off under the head computer expenses - disallowance - Held that: - the assessee has given advances for purchase of computer software which was to be used by the assessee for the purpose of carrying is business smoothly and more efficiently. We find that now it is settled legal position of law that any advances or any expenditure incurred on computer software to be used for the purpose of business were to be in the nature of business expenditure and has to be written of in the year of purchases - amount allowed. Appeal partly allowed and part matter on remand.
|