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2017 (3) TMI 196 - HC - Income TaxDisallowance of claim on bad debt/ trading loss - Held that:- It is not in dispute that as such the assessee himself written off the aforesaid amount as bad debt / trading loss. The said amount is irrecoverable during the year and the loss is arising during the year under consideration. In that view of the matter and aforesaid undisputed facts, it cannot be said that the learned Tribunal has committed any error in treating the same and / or considering the same as trading loss. When the assessee itself in his books of account shown and written of said amount, the same is rightly considered as bad debt / trading loss. Under the circumstances, no error has been committed by the learned Tribunal in confirming the order passed by the learned CIT(A) in deleting the addition - Decided in favour of the assessee. Treatment to software expenses - revenue expenditure or capital expenditure - Held that:- Expenditure of software stock and maintenance charges is required to be treated and / or considered as revenue expenditure. See Commissioner of Income-tax-I Versus NJ. India Invest (P.) Ltd.[2013 (7) TMI 738 - GUJARAT HIGH COURT ] - Decided in favour of the assessee.
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