https://www.taxtmi.com/caselaws?id=367221 Section 10AA deduction is to be computed at the level of the eligible undertaking before Chapter VI set-off is applied, so the unit's loss is determined independently and not first adjusted against income from other units; the explanatory amendment was treated as declaratory, and the Revenue's view was rejected. Software expenditure is classified by nature: items conferring enduring benefit or acquired rights of use are capital in nature and qualify only for depreciation, while routine software, antivirus, upgrading and control software are revenue expenditure. The appellate treatment on this issue was upheld, and the Revenue's challenge failed on both points. en-us Mon, 10 Sep 2018 00:00:00 +0530 Tue, 16 Oct 2018 14:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367221 Section 10AA deduction is to be computed at the level of the eligible undertaking before Chapter VI set-off is applied, so the unit's loss is determined independently and not first adjusted against income from other units; the explanatory amendment was treated as declaratory, and the Revenue's view was rejected. Software expenditure is classified by nature: items conferring enduring benefit or acquired rights of use are capital in nature and qualify only for depreciation, while routine software, antivirus, upgrading and control software are revenue expenditure. The appellate treatment on this issue was upheld, and the Revenue's challenge failed on both points. Case-Laws Income Tax Mon, 10 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367221