https://www.taxtmi.com/caselaws?id=359423 The Court ruled in favor of the assessee, determining that the software expenses incurred should be classified as revenue expenditure rather than capital expenditure. The Court emphasized that the software licenses did not confer enduring rights, were used for a specific duration, and aimed at optimizing the bank's performance and efficiency without altering fixed assets. The Court held that expenses enhancing the profit-making structure's efficiency, without impacting fixed assets, should be considered revenue expenditure. As a result, the Court allowed the appeals and sided with the assessee on the nature of the software expenses. en-us Tue, 17 Apr 2018 00:00:00 +0530 Mon, 30 Apr 2018 09:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359423 The Court ruled in favor of the assessee, determining that the software expenses incurred should be classified as revenue expenditure rather than capital expenditure. The Court emphasized that the software licenses did not confer enduring rights, were used for a specific duration, and aimed at optimizing the bank's performance and efficiency without altering fixed assets. The Court held that expenses enhancing the profit-making structure's efficiency, without impacting fixed assets, should be considered revenue expenditure. As a result, the Court allowed the appeals and sided with the assessee on the nature of the software expenses. Case-Laws Income Tax Tue, 17 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359423