https://www.taxtmi.com/caselaws?id=445154 The Delhi HC ruled on multiple tax issues. For section 14A disallowance under Rule 8D, the court followed Cargo Motors precedent that only investments made to earn exempt income should be considered, not all investments. Regarding section 37(1) expense disallowances, the court upheld tribunal's deletion of additions made by AO on ad hoc basis without specific identification of non-business expenses. For software depreciation, the court confirmed 60% rate applies to standard software integral to hardware operation. Software expenditure was treated as revenue expenditure following Times Internet precedent, making it allowable as deduction. en-us Fri, 13 Oct 2023 00:00:00 +0530 Wed, 18 Feb 2026 16:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445154 The Delhi HC ruled on multiple tax issues. For section 14A disallowance under Rule 8D, the court followed Cargo Motors precedent that only investments made to earn exempt income should be considered, not all investments. Regarding section 37(1) expense disallowances, the court upheld tribunal's deletion of additions made by AO on ad hoc basis without specific identification of non-business expenses. For software depreciation, the court confirmed 60% rate applies to standard software integral to hardware operation. Software expenditure was treated as revenue expenditure following Times Internet precedent, making it allowable as deduction. Case-Laws Income Tax Fri, 13 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445154