https://www.taxtmi.com/highlights?id=61337 Nature of expenditure - expenditure towards purchase of software - We hold that advantage of an enduring benefit, need not be on capital account. If the advantage consists merely in facilitating the assessee's trading operations or enabling him to manage and conduct his business more efficiently or more profitably while leaving the fixed capital untouched, the same cannot be regarded as on capital account. In order to treat any expenditure as capital expenditure, the same should result in accrual of advantage of enduring benefit and such benefit should accrue to the assesses in the capital field. - the expenditure in question has to be regarded as revenue expenditure. - AT en-us Sat, 08 Jan 2022 13:24:26 +0530 Sat, 08 Jan 2022 13:24:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=61337 Nature of expenditure - expenditure towards purchase of software - We hold that advantage of an enduring benefit, need not be on capital account. If the advantage consists merely in facilitating the assessee's trading operations or enabling him to manage and conduct his business more efficiently or more profitably while leaving the fixed capital untouched, the same cannot be regarded as on capital account. In order to treat any expenditure as capital expenditure, the same should result in accrual of advantage of enduring benefit and such benefit should accrue to the assesses in the capital field. - the expenditure in question has to be regarded as revenue expenditure. - AT Highlights Income Tax Sat, 08 Jan 2022 13:24:26 +0530 https://www.taxtmi.com/highlights?id=61337