https://www.taxtmi.com/caselaws?id=357385 The High Court upheld the Income Tax Appellate Tribunal's decision to delete the penalty imposed by the Assessing Officer and upheld by the CIT (Appeals) for the assessment year 2005-2006. The Tribunal ruled in favor of the assessee regarding the waiver of a loan by the parent company, reducing the gross value of assets, and the disallowance of software expenses claimed as revenue expenditure. The High Court found no grounds to interfere with the Tribunal's decision, leading to the dismissal of the appeal. en-us Thu, 01 Mar 2018 00:00:00 +0530 Thu, 29 Mar 2018 12:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357385 The High Court upheld the Income Tax Appellate Tribunal's decision to delete the penalty imposed by the Assessing Officer and upheld by the CIT (Appeals) for the assessment year 2005-2006. The Tribunal ruled in favor of the assessee regarding the waiver of a loan by the parent company, reducing the gross value of assets, and the disallowance of software expenses claimed as revenue expenditure. The High Court found no grounds to interfere with the Tribunal's decision, leading to the dismissal of the appeal. Case-Laws Income Tax Thu, 01 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357385