https://www.taxtmi.com/caselaws?id=235540 The High Court dismissed the revenue's appeals regarding the disallowance of depreciation on the intangible assets developed by the assessee, specifically the software 'AVTAR TM.' The Court upheld the CIT(A)'s decision, emphasizing that the software was developed by the appellant, registered as a trademark, and the expenditure incurred was capital in nature. The rejection of the claim by the Assessing Officer based on insufficient details of expenditure was deemed unjustified, as the accounts were available for verification, and the revenue had not challenged the information provided by the assessee. en-us Tue, 30 Apr 2013 00:00:00 +0530 Sat, 07 Dec 2013 12:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235540 The High Court dismissed the revenue's appeals regarding the disallowance of depreciation on the intangible assets developed by the assessee, specifically the software 'AVTAR TM.' The Court upheld the CIT(A)'s decision, emphasizing that the software was developed by the appellant, registered as a trademark, and the expenditure incurred was capital in nature. The rejection of the claim by the Assessing Officer based on insufficient details of expenditure was deemed unjustified, as the accounts were available for verification, and the revenue had not challenged the information provided by the assessee. Case-Laws Income Tax Tue, 30 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235540