https://www.taxtmi.com/caselaws?id=400694 The ITAT allowed the appeal filed by the assessee, deleting the penalty levied for treating the purchase of software as a revenue expenditure. The ITAT dismissed the revenue's appeal due to the total addition falling below the revised monetary limit for filing appeals before ITAT. The judgment emphasized the importance of disclosing information clearly and in good faith, considering the nature of the transaction and relevant legal provisions. en-us Thu, 16 Jul 2020 00:00:00 +0530 Fri, 13 Nov 2020 20:56:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400694 The ITAT allowed the appeal filed by the assessee, deleting the penalty levied for treating the purchase of software as a revenue expenditure. The ITAT dismissed the revenue's appeal due to the total addition falling below the revised monetary limit for filing appeals before ITAT. The judgment emphasized the importance of disclosing information clearly and in good faith, considering the nature of the transaction and relevant legal provisions. Case-Laws Income Tax Thu, 16 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400694