https://www.taxtmi.com/caselaws?id=379961 The tribunal allowed the software expenses as revenue expenditure, directed the assessee to furnish Form 3CM for R&D expenses, upheld 60% depreciation on computer software, directed depreciation allowance on BMIL and PHL assets, referred inventory valuation back for verification, disagreed with disallowance under Sec. 14A, vacated disallowance under Sec. 35A, rejected disallowance of advertisement expenses, ordered fresh adjudication on Sec. 80IC deductions, allowed Sec. 80IC deduction, set corporate guarantee commission at 0.5%, and excluded Sec. 14A disallowance from book profit computation under Sec. 115JB. The appeal outcome favored the assessee partially. en-us Tue, 07 May 2019 00:00:00 +0530 Thu, 09 May 2019 15:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379961 The tribunal allowed the software expenses as revenue expenditure, directed the assessee to furnish Form 3CM for R&D expenses, upheld 60% depreciation on computer software, directed depreciation allowance on BMIL and PHL assets, referred inventory valuation back for verification, disagreed with disallowance under Sec. 14A, vacated disallowance under Sec. 35A, rejected disallowance of advertisement expenses, ordered fresh adjudication on Sec. 80IC deductions, allowed Sec. 80IC deduction, set corporate guarantee commission at 0.5%, and excluded Sec. 14A disallowance from book profit computation under Sec. 115JB. The appeal outcome favored the assessee partially. Case-Laws Income Tax Tue, 07 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379961