https://www.taxtmi.com/caselaws?id=280152 The court dismissed all three appeals of the revenue. The first issue regarding the deletion of disallowance on account of royalty payment was decided in favor of the assessee, as the royalty payment was deemed revenue expenditure. The second issue on allowing depreciation on computer peripherals was resolved in line with previous decisions, granting 60% depreciation. Lastly, the deduction of exchange fluctuation loss was permitted as it pertained to foreign exchange liability. The court upheld the orders of the Ld. CIT(A) in all instances for the assessment years 2003-04, 2004-05, and 2005-06. en-us Mon, 18 Feb 2013 00:00:00 +0530 Tue, 23 Apr 2019 11:20:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280152 The court dismissed all three appeals of the revenue. The first issue regarding the deletion of disallowance on account of royalty payment was decided in favor of the assessee, as the royalty payment was deemed revenue expenditure. The second issue on allowing depreciation on computer peripherals was resolved in line with previous decisions, granting 60% depreciation. Lastly, the deduction of exchange fluctuation loss was permitted as it pertained to foreign exchange liability. The court upheld the orders of the Ld. CIT(A) in all instances for the assessment years 2003-04, 2004-05, and 2005-06. Case-Laws Income Tax Mon, 18 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280152