https://www.taxtmi.com/caselaws?id=456383 ITAT Ahmedabad ruled in favor of the assessee on multiple grounds. Software expenses for application software, upgradation charges, and license fees were held to be revenue expenditure as they were necessary for efficient business operations. Building repair expenses were confirmed as normal maintenance costs, not capital expenditure, as no new assets were created. The tribunal dismissed revenue's challenge on TDS non-deduction for clearing and forwarding charges, citing finality from previous assessment years. Transfer pricing adjustment for guarantee commission was rejected as the total borrowing cost remained below bank rates and the assessee's operating margins exceeded comparable companies. en-us Mon, 08 May 2017 00:00:00 +0530 Mon, 22 Jul 2024 20:36:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456383 ITAT Ahmedabad ruled in favor of the assessee on multiple grounds. Software expenses for application software, upgradation charges, and license fees were held to be revenue expenditure as they were necessary for efficient business operations. Building repair expenses were confirmed as normal maintenance costs, not capital expenditure, as no new assets were created. The tribunal dismissed revenue's challenge on TDS non-deduction for clearing and forwarding charges, citing finality from previous assessment years. Transfer pricing adjustment for guarantee commission was rejected as the total borrowing cost remained below bank rates and the assessee's operating margins exceeded comparable companies. Case-Laws Income Tax Mon, 08 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456383