https://www.taxtmi.com/caselaws?id=405263 The Tribunal condoned the 103-day delay in the Revenue's appeal, admitting it. The disallowance of monitoring fees under Section 40(a)(ia) was overturned, as the fees qualified as 'interest' under the Indo-German DTAA. The Tribunal upheld the deduction of loss on an interest rate hedging contract as revenue expenditure. It restored the issue of depreciation on software expenditure to the AO for fresh adjudication, directing depreciation on the Written Down Value, contingent on the outcome of the assessee's pending appeal for AY 2011-12. The Tribunal dismissed the Revenue's appeal and allowed the assessee's cross-objection for statistical purposes. en-us Mon, 15 Mar 2021 00:00:00 +0530 Tue, 29 Oct 2024 11:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405263 The Tribunal condoned the 103-day delay in the Revenue's appeal, admitting it. The disallowance of monitoring fees under Section 40(a)(ia) was overturned, as the fees qualified as 'interest' under the Indo-German DTAA. The Tribunal upheld the deduction of loss on an interest rate hedging contract as revenue expenditure. It restored the issue of depreciation on software expenditure to the AO for fresh adjudication, directing depreciation on the Written Down Value, contingent on the outcome of the assessee's pending appeal for AY 2011-12. The Tribunal dismissed the Revenue's appeal and allowed the assessee's cross-objection for statistical purposes. Case-Laws Income Tax Mon, 15 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405263