https://www.taxtmi.com/caselaws?id=59662 The ITAT upheld the CIT(A)'s decisions on all contested issues, dismissing the Revenue's appeal. The deletion of disallowance for software expenses was affirmed, recognizing software's rapid obsolescence. The recomputation of the section 80HHE deduction excluded exchange gains from total turnover. The depreciation claim on old assets was accepted, and the disallowance of repairs and maintenance expenses was canceled, emphasizing the evolving nature of software technology. en-us Mon, 05 Jul 2004 00:00:00 +0530 Wed, 03 Jul 2024 16:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59662 The ITAT upheld the CIT(A)'s decisions on all contested issues, dismissing the Revenue's appeal. The deletion of disallowance for software expenses was affirmed, recognizing software's rapid obsolescence. The recomputation of the section 80HHE deduction excluded exchange gains from total turnover. The depreciation claim on old assets was accepted, and the disallowance of repairs and maintenance expenses was canceled, emphasizing the evolving nature of software technology. Case-Laws Income Tax Mon, 05 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59662