TMI Blog2014 (12) TMI 187X X X X Extracts X X X X X X X X Extracts X X X X ..... uch as software maintenance charges, annual maintenance contracts, etc. and did not create any capital asset - the expenses allowed were of a revenue nature as they did not create any new assets nor any enduring advantage was gained by the assessee as a result of the expenditure – Thus, the order of the Tribunal is upheld – Decided against revenue. - Income Tax Appeal No. 467 of 2012 - - - Dated: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessing Officer by order dated 27th December 2007 disallowed the expenses of ₹ 1.91 crores claimed on account of software expenses and product development charges. This was on negativing the respondent Assessee's contention that these expenses were allowable under Section 37(1) of the Act as these were routine expenses incurred on website content upgradation and did not result in creatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tax (Appeals). The Tribunal on examination concluded that the expenses allowed were of a revenue nature as they did not create any new assets nor any enduring advantage was gained by the respondent Assessee as a result of this expenditure. Thus the Appeal of the revenue was dismissed. 5. We find that in the present case there are concurrent findings of fact arrived by CIT (A) and the Tribunal. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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