https://www.taxtmi.com/caselaws?id=329080 The Tribunal found that software expenses incurred by the assessee were revenue in nature and not capital expenditure. Therefore, the disallowance of Rs. 14,12,131 was deleted. Consequently, the penalty imposed under Section 271(1)(c) was also deleted as it was based on the disallowed amount. Both appeals filed by the assessee were allowed. en-us Mon, 02 May 2016 00:00:00 +0530 Wed, 22 Jun 2016 09:07:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329080 The Tribunal found that software expenses incurred by the assessee were revenue in nature and not capital expenditure. Therefore, the disallowance of Rs. 14,12,131 was deleted. Consequently, the penalty imposed under Section 271(1)(c) was also deleted as it was based on the disallowed amount. Both appeals filed by the assessee were allowed. Case-Laws Income Tax Mon, 02 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329080