https://www.taxtmi.com/caselaws?id=429895 The High Court ruled in favor of the appellant in a case concerning depreciation disallowance on computer software and disallowance of business development expenses for the assessment year 2012-2013. The Court held that the reason for withholding payment due to lack of software update was insufficient to disallow depreciation, as the existing version could still be used. Additionally, the Court emphasized that the Assessing Officer cannot question the expediency of expenditure, only its genuineness, and allowed the appeal, deciding in favor of the assessee and against the revenue without costs. en-us Mon, 10 Oct 2022 00:00:00 +0530 Fri, 11 Aug 2023 10:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429895 The High Court ruled in favor of the appellant in a case concerning depreciation disallowance on computer software and disallowance of business development expenses for the assessment year 2012-2013. The Court held that the reason for withholding payment due to lack of software update was insufficient to disallow depreciation, as the existing version could still be used. Additionally, the Court emphasized that the Assessing Officer cannot question the expediency of expenditure, only its genuineness, and allowed the appeal, deciding in favor of the assessee and against the revenue without costs. Case-Laws Income Tax Mon, 10 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429895