https://www.taxtmi.com/caselaws?id=219708 The ITAT partly allowed the appeal, directing 5% of expenditure to be attributed to trading in shares in the appellant's name and the remaining to be set off against brokerage income. The issue of addition of trade credit accounts under sec 68 was set aside for the appellant to substantiate claims. Regarding the treatment of software expenses, the ITAT ruled in favor of the appellant, deeming them revenue expenses as they were for software upgrades, not new software acquisition. en-us Mon, 23 Jul 2012 00:00:00 +0530 Fri, 20 Nov 2015 13:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219708 The ITAT partly allowed the appeal, directing 5% of expenditure to be attributed to trading in shares in the appellant's name and the remaining to be set off against brokerage income. The issue of addition of trade credit accounts under sec 68 was set aside for the appellant to substantiate claims. Regarding the treatment of software expenses, the ITAT ruled in favor of the appellant, deeming them revenue expenses as they were for software upgrades, not new software acquisition. Case-Laws Income Tax Mon, 23 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219708