Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2016 Year 2016 This

Since the expenditure was incurred for purchase of Windows XP ...

Income Tax

June 17, 2016

Since the expenditure was incurred for purchase of Windows XP Professional, an application software for its office use and becomes obsolete very fast, it cannot be treated as capital asset and therefore the same is to be treated and allowed as revenue expenditure - AT

View Source

 


 

You may also like:

  1. Software consumable expenses – The expenditure was incurred for application software and not for system software – The software was not of enduring nature and would...

  2. Expenses incurred on up-gradation of software do not result into acquisition of any asset nor acquisition of enduring benefits as software become obsolete very quickly -...

  3. Revenue expenditure versus capital expenditure - expenditure incurred on ERP Software – allowed as revenue expenditure - AT

  4. Capital or Revenue expenses – The number of entries for purchase of software tools is running into 170 - thus, the expenditure incurred by the assessee was revenue in...

  5. Software expenses - revenue or capital expenditure - real intent and purpose - expenditure incurred by the assessee on software is allowable as revenue expenditure. - AT

  6. Nature of purchase of software - software purchased by assessee for ultimate export either as embedded software or as part of project undertaken by it cannot be...

  7. Nature of expenses - Expenses incurred on Enterprise Resource Planning (“ERP”) and software expenses - revenue or capital expenditure - in today’s fast changing...

  8. Software development expenditure which was application software was revenue in nature - deduction allowed u/s 37.

  9. Sale of computers with pirated/ unlicensed version of Windows XP and Microsoft office software - infringement of copyright - plaintiffs are entitled to damages to the...

  10. Purchase of Software application - MS Office Software, Anti Virus software, Lotus Notes Software and Message Exchange applications. - Held as revenue expenditure.... - HC

 

Quick Updates:Latest Updates