https://www.taxtmi.com/caselaws?id=178790 The Tribunal upheld the assessee's claim for depreciation on software purchases, rejecting the assessing authority's characterization of the payments as Royalty. Market promotion expenses were allowed for payments to foreign companies without a Permanent Establishment, while FCCB issue expenses were deemed revenue in nature. Telecommunication charges were adjusted in favor of the assessee, aligning with the ITAT Chennai Special Bench decision. The assessee's appeal for A.Y. 2005-06 was dismissed, but allowed for A.Y. 2006-07. The Revenue's appeals for both years were dismissed. en-us Tue, 08 Feb 2011 00:00:00 +0530 Thu, 03 Aug 2023 16:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178790 The Tribunal upheld the assessee's claim for depreciation on software purchases, rejecting the assessing authority's characterization of the payments as Royalty. Market promotion expenses were allowed for payments to foreign companies without a Permanent Establishment, while FCCB issue expenses were deemed revenue in nature. Telecommunication charges were adjusted in favor of the assessee, aligning with the ITAT Chennai Special Bench decision. The assessee's appeal for A.Y. 2005-06 was dismissed, but allowed for A.Y. 2006-07. The Revenue's appeals for both years were dismissed. Case-Laws Income Tax Tue, 08 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178790