https://www.taxtmi.com/caselaws?id=327546 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s order. It found that the CIT(A) correctly applied legal principles, including the distinction between capital and revenue expenditure, and cited precedents like "Reliance Petroproducts Pvt. Ltd." The Tribunal agreed that the issue of software expenses was debatable, precluding penalty for concealment. It deemed the CIT(A)'s order well-reasoned and declined to set it aside or restore the AO's order. The appeal was dismissed, affirming the CIT(A)'s decision. en-us Wed, 06 Apr 2016 00:00:00 +0530 Fri, 13 May 2016 08:59:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327546 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s order. It found that the CIT(A) correctly applied legal principles, including the distinction between capital and revenue expenditure, and cited precedents like "Reliance Petroproducts Pvt. Ltd." The Tribunal agreed that the issue of software expenses was debatable, precluding penalty for concealment. It deemed the CIT(A)'s order well-reasoned and declined to set it aside or restore the AO's order. The appeal was dismissed, affirming the CIT(A)'s decision. Case-Laws Income Tax Wed, 06 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327546