https://www.taxtmi.com/caselaws?id=220717 The Tribunal upheld that the purchase of computer software should be treated as revenue expenditure due to its limited license period, following the Karnataka High Court precedent. The appeal on excluding certain expenses from total turnover was dismissed. Telecommunication expenses were directed to be reduced from total turnover, aligning with a High Court decision. The Tribunal affirmed that deduction under section 10B should precede setting off losses and unabsorbed depreciation, as per a High Court ruling. Regarding foreign currency expenses, the Tribunal allowed the issue to be raised if necessary and restored the matter of unabsorbed depreciation for further examination. Both parties' appeals were partially allowed, emphasizing adherence to legal precedents and principles. en-us Fri, 11 Jan 2013 00:00:00 +0530 Wed, 06 Feb 2013 08:08:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220717 The Tribunal upheld that the purchase of computer software should be treated as revenue expenditure due to its limited license period, following the Karnataka High Court precedent. The appeal on excluding certain expenses from total turnover was dismissed. Telecommunication expenses were directed to be reduced from total turnover, aligning with a High Court decision. The Tribunal affirmed that deduction under section 10B should precede setting off losses and unabsorbed depreciation, as per a High Court ruling. Regarding foreign currency expenses, the Tribunal allowed the issue to be raised if necessary and restored the matter of unabsorbed depreciation for further examination. Both parties' appeals were partially allowed, emphasizing adherence to legal precedents and principles. Case-Laws Income Tax Fri, 11 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220717