Home Highlights July 2012 Year 2012 This

You may also like:

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

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

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. Research and Development expenditure i.e. G.E.Linear Development Expenditure, Eaton Project Development - the expenditure did not reflect that any new capital asset had...

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

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

7. Assessee is entitled to claim depreciation @ 60% on expenditure incurred in the development of computer software being capital in nature - AT

8. Expenditure of software stock and maintenance charges is required to be treated and / or considered as revenue expenditure and not as capital expenditure - HC

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

10. 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...