https://www.taxtmi.com/caselaws?id=217723 The Appellate Tribunal allowed the Revenue's appeal, remitting the matter back to the Assessing Officer for fresh consideration regarding the allowability of the assessee's claim of Rs. 86,47,623/- as revenue expenditure for software development. The Tribunal emphasized the importance of accounting standards and consistency in determining expenses, highlighting that the authorities below did not adequately consider these factors. The decision was based on the need for a re-evaluation in accordance with the law and the nature of the assessee's business activities. en-us Mon, 02 Apr 2012 00:00:00 +0530 Tue, 23 Oct 2012 22:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217723 The Appellate Tribunal allowed the Revenue's appeal, remitting the matter back to the Assessing Officer for fresh consideration regarding the allowability of the assessee's claim of Rs. 86,47,623/- as revenue expenditure for software development. The Tribunal emphasized the importance of accounting standards and consistency in determining expenses, highlighting that the authorities below did not adequately consider these factors. The decision was based on the need for a re-evaluation in accordance with the law and the nature of the assessee's business activities. Case-Laws Income Tax Mon, 02 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217723