Condonation of Delay: Tribunal directed condonation where rectification proceedings were pursued, ordering merits adjudication after opportunity to be...
Restriction of Input Tax Credit under Rule 86A applies only to fraudulently or ineligible availed credit; mere wrongful recipient availment is insuffi...
Characterisation of software expenditure focused on whether payments were capital or revenue; the payments were held to be recurring annual maintenance, database support and licence renewal costs conferring only annual benefits, with no transfer of ownership, no creation of a software asset or enduring benefit to the assessee's asset base. The assessing officer failed to produce cogent material showing a capital asset arose. Operative effect: the payments were treated as revenue expenditure and allowable under income-tax deductibility principles, leading to deletion of the addition and dismissal of the revenue appeal.
Characterisation of software expenditure focused on whether payments were capital or revenue; the payments were held to be recurring annual maintenance, database support and licence renewal costs conferring only annual benefits, with no transfer of ownership, no creation of a software asset or enduring benefit to the assessee's asset base. The assessing officer failed to produce cogent material showing a capital asset arose. Operative effect: the payments were treated as revenue expenditure and allowable under income-tax deductibility principles, leading to deletion of the addition and dismissal of the revenue appeal.
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