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Income Tax - Highlights / Catch Notes

Home Highlights November 2017 Year 2017 This

Allowability of software expenses - revenue or capital ...

Income Tax

November 25, 2017

Allowability of software expenses - revenue or capital expenditure - purchase of software for Website related application for LAN. - held as capital expenditure - depreciation to be allowed - AT

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

  2. 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...

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

  4. Media cost for import of software - Capital expenditure or revenue - Software used for duplication and licensing - expenses allowed as revenue expenditure - HC

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

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

  7. 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...

  8. Foreign travelling expenses incurred for purchase of Machinery from outside India cannot be treated as Capital Expenditure rather treated as Revenue Expenditure only for...

  9. Allowability of Scholarship expenditure as business expense - revenue contended that Scholarship was given to only one student namely, Akash Kumar for getting education...

  10. Expenditure on obtaining license for use of accounting software - revenue or capital expenditure - the assessee has not purchased the software but has purchased the...

 

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