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Income Tax - Highlights / Catch Notes

Home Highlights March 2017 Year 2017 This

Enterprise Resource Planning (ERP) software installed by the ...

Income Tax

March 11, 2017

Enterprise Resource Planning (ERP) software installed by the assessee denied on the ground of it representing capital expenditure, inadmissible u/s. 37(1) - AT

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

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

  3. Levy of VAT - transfer of goods or not - integration process of the developed ERP software is undertaken by the assessee by deputing ERP implementation team to render...

  4. Cenvat credit in respect of capital goods cannot be denied to the manufacturing unit if the same is installed at the job working premises

  5. Application for amendment in approved ground plan of Central Excise registration to include the pipeline laid down from Wadinar (Gujarat) state to the refinery at Bina...

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

  8. Software expenses - revenue v/s capital expenditure - software may be needed like raw material - computer software expenses were revenue in nature - HC

  9. Taxation of software reimbursements as Royalty - assessee strongly contends that reimbursements sought by the assessee represent recovery of expenses incurred by it, on...

  10. CENVAT Credit - capital goods - change in constitution of the company - invoice in the name of predecessor entity - This itself would not be a ground to deny them CENVAT Credit.

 

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