https://www.taxtmi.com/caselaws?id=456348 Payments for EDA software and IT support used under group arrangements, without ownership or an enduring proprietary right, are revenue expenditure. Deduction for eligible software professionals may continue within the prescribed benefit period where they are non-supervisory workmen and satisfy the service condition in a succeeding year. Costs of an abandoned expansion project may be deductible where no asset or enduring advantage arises, although repairs-related expenditure requires verification. Lease rentals remain revenue expenditure where the lessor retains ownership, and a notional foreclosure gain does not create taxable income. Software-development additions require reconsideration where reconciliations, TDS and treaty issues were not examined. Employee stock-option costs relating to the relevant year are allowable business expenditure. en-us Wed, 29 Jun 2022 00:00:00 +0530 Thu, 18 Jul 2024 19:46:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456348 Payments for EDA software and IT support used under group arrangements, without ownership or an enduring proprietary right, are revenue expenditure. Deduction for eligible software professionals may continue within the prescribed benefit period where they are non-supervisory workmen and satisfy the service condition in a succeeding year. Costs of an abandoned expansion project may be deductible where no asset or enduring advantage arises, although repairs-related expenditure requires verification. Lease rentals remain revenue expenditure where the lessor retains ownership, and a notional foreclosure gain does not create taxable income. Software-development additions require reconsideration where reconciliations, TDS and treaty issues were not examined. Employee stock-option costs relating to the relevant year are allowable business expenditure. Case-Laws Income Tax Wed, 29 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456348