2014 (12) TMI 187

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.....C. This appeal is under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as 'Act') challenges the order dated 5th September 2011 passed by the Income Tax Appellate Tribunal (hereinafter referred to as 'Tribunal') for Assessment Year 2005-06. 2. The following question of law has been raised for our consideration: "Whether on the facts and in the circumstan....

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....e Commissioner of Income Tax (Appeals) held that out of the software and product development expenses of Rs. 1.81 crores claimed an amount of Rs. 63.74 lacs were of a routine and periodic nature such as software maintenance charges, annual maintenance contracts, etc. and did not create any capital asset. Consequently an amount of Rs. 63.74 lacs was allowed as expenditure under Section 37(1) of the....