https://www.taxtmi.com/caselaws?id=339693 The High Court upheld the decisions of the lower authorities in favor of the assessee in a case involving the disallowance of a claim on bad debt/trading loss and the treatment of software expenses as revenue expenditure. The Court ruled that the bad debt/trading loss was correctly treated as a trading loss since it was deemed irrecoverable during the relevant year and had been written off in the assessee's books. Additionally, the Court held that software expenses should be considered as revenue expenditure based on previous judicial precedents. The appeal by the revenue was dismissed, affirming the decisions in favor of the assessee on both issues. en-us Mon, 27 Feb 2017 00:00:00 +0530 Mon, 06 Mar 2017 09:06:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339693 The High Court upheld the decisions of the lower authorities in favor of the assessee in a case involving the disallowance of a claim on bad debt/trading loss and the treatment of software expenses as revenue expenditure. The Court ruled that the bad debt/trading loss was correctly treated as a trading loss since it was deemed irrecoverable during the relevant year and had been written off in the assessee's books. Additionally, the Court held that software expenses should be considered as revenue expenditure based on previous judicial precedents. The appeal by the revenue was dismissed, affirming the decisions in favor of the assessee on both issues. Case-Laws Income Tax Mon, 27 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339693