https://www.taxtmi.com/caselaws?id=394905 Software licence costs that facilitate business operations without forming part of the profit-making apparatus are revenue expenditure. Interest, prepayment charges, integration-related professional fees and consultant payments incurred for commercial expediency, business expansion or operational improvement are deductible where they do not create a capital asset or enduring capital advantage. Unsaleable stock, bad receivables, termination compensation and genuine divisional-closure losses may qualify as business deductions. Scrap sales, cash discounts and insurance receipts connected with business or export activity remain in business profits for export-deduction computation. Capital gains must reflect only the property transferred during the relevant year, with appropriate land-building allocation and valuation of perpetual leasehold interests. Retrospective amendments cannot impose withholding obligations on completed payments under prior law. en-us Thu, 20 Feb 2020 00:00:00 +0530 Tue, 28 Apr 2020 12:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394905 Software licence costs that facilitate business operations without forming part of the profit-making apparatus are revenue expenditure. Interest, prepayment charges, integration-related professional fees and consultant payments incurred for commercial expediency, business expansion or operational improvement are deductible where they do not create a capital asset or enduring capital advantage. Unsaleable stock, bad receivables, termination compensation and genuine divisional-closure losses may qualify as business deductions. Scrap sales, cash discounts and insurance receipts connected with business or export activity remain in business profits for export-deduction computation. Capital gains must reflect only the property transferred during the relevant year, with appropriate land-building allocation and valuation of perpetual leasehold interests. Retrospective amendments cannot impose withholding obligations on completed payments under prior law. Case-Laws Income Tax Thu, 20 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394905