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| The Tax Publishers2019 TaxPub(DT) 2654 (Mum-Trib) INCOME TAX ACT, 1961
Section 37(1)
Expenditure in the nature of annual payments for maintenance of various software being used by the assessee could not be held to be of capital in nature and was, therefore, deductible.
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Capital or revenue expenditure - Annual payments for maintenance of various software being used by the assedssee. - -
Assessee claimed an amount of Rs. 111 lakhs towards computer software charges. AO held the same to be of capital in nature. Assessee's case was that expenditure pertained to annual payments for maintenance of various software being used by the assessee. Held: Expenditure in the nature of annual payments for maintenance of various software being used by the assessee could not be held to be of capital in nature and was, therefore, deductible.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2006-07
INCOME TAX ACT, 1961
Section 37(1)
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