https://www.taxtmi.com/caselaws?id=176451 The appeal was allowed by the Tribunal on both grounds. The software development expense of Rs. 36,000 was deemed revenue expenditure, overturning the decision of the CIT(A) that treated it as capital expenditure. Additionally, the payments of Rs. 53,389 to National Stock Exchange Ltd. for penalties were considered allowable revenue expenditure, following precedent that such penalties in the normal course of business are deductible. The Tribunal ruled in favor of the assessee, allowing both expenses as deductions. en-us Fri, 10 Aug 2007 00:00:00 +0530 Wed, 23 Dec 2015 11:26:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176451 The appeal was allowed by the Tribunal on both grounds. The software development expense of Rs. 36,000 was deemed revenue expenditure, overturning the decision of the CIT(A) that treated it as capital expenditure. Additionally, the payments of Rs. 53,389 to National Stock Exchange Ltd. for penalties were considered allowable revenue expenditure, following precedent that such penalties in the normal course of business are deductible. The Tribunal ruled in favor of the assessee, allowing both expenses as deductions. Case-Laws Income Tax Fri, 10 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176451