https://www.taxtmi.com/caselaws?id=304675 The High Court dismissed the appeal filed by the Appellants-Revenue challenging the exclusion of comparables Kals Information Systems Ltd and Bodhtree Consulting Ltd. The Court upheld the ITAT's decision that the comparables were functionally dissimilar to the assessee. Additionally, the Court affirmed the ITAT's ruling on the disallowance of software expenses claimed by the assessee, stating that such expenses were revenue expenditure due to their nature of enhancing business operations' efficiency without creating enduring benefits. The Court concluded that no substantial question of law arose in this case, leading to the dismissal of the appeal. en-us Mon, 30 Jul 2018 00:00:00 +0530 Fri, 14 Oct 2022 08:46:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304675 The High Court dismissed the appeal filed by the Appellants-Revenue challenging the exclusion of comparables Kals Information Systems Ltd and Bodhtree Consulting Ltd. The Court upheld the ITAT's decision that the comparables were functionally dissimilar to the assessee. Additionally, the Court affirmed the ITAT's ruling on the disallowance of software expenses claimed by the assessee, stating that such expenses were revenue expenditure due to their nature of enhancing business operations' efficiency without creating enduring benefits. The Court concluded that no substantial question of law arose in this case, leading to the dismissal of the appeal. Case-Laws Income Tax Mon, 30 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304675