Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
Software licence, database support and related IT expenditure was held to be revenue in nature because it secured only a limited right to use software, with no acquisition of proprietary or copyright rights and no independent enduring asset. Applying the principle from Engineering Analysis, the Tribunal treated the payments as facilitating day-to-day business operations and upheld deletion of the disallowance. On year-end provisions, the Tribunal held that repeated disallowance of the same item would create impermissible double disallowance; the matter was restored for limited verification of prior disallowance or tax deduction and corresponding relief to prevent duplication.
Software licence, database support and related IT expenditure was held to be revenue in nature because it secured only a limited right to use software, with no acquisition of proprietary or copyright rights and no independent enduring asset. Applying the principle from Engineering Analysis, the Tribunal treated the payments as facilitating day-to-day business operations and upheld deletion of the disallowance. On year-end provisions, the Tribunal held that repeated disallowance of the same item would create impermissible double disallowance; the matter was restored for limited verification of prior disallowance or tax deduction and corresponding relief to prevent duplication.
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