https://www.taxtmi.com/caselaws?id=71952 The Tribunal partly allowed the appeals for statistical purposes. It directed the AO to treat certain expenditures as revenue in nature and allowed the deduction of interest under section 36(1)(iii). However, it upheld the AO's action of charging interest under section 234C. The Tribunal also instructed the AO to recompute the deduction under section 80HHC, considering only net interest, following applicable judicial precedents. The matter was remanded to the AO for further determination on specific issues, including the nature of software expenses. en-us Fri, 17 Oct 2008 00:00:00 +0530 Tue, 21 Nov 2023 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71952 The Tribunal partly allowed the appeals for statistical purposes. It directed the AO to treat certain expenditures as revenue in nature and allowed the deduction of interest under section 36(1)(iii). However, it upheld the AO's action of charging interest under section 234C. The Tribunal also instructed the AO to recompute the deduction under section 80HHC, considering only net interest, following applicable judicial precedents. The matter was remanded to the AO for further determination on specific issues, including the nature of software expenses. Case-Laws Income Tax Fri, 17 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71952