2016 (3) TMI 1320

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....e Respondent: Mr Gautam Jain and Mr Piyush Kumar, Advocates. O R D E R CM No.7762/2016 in ITA 178/2016 1. Allowed, subject to all just exceptions. 2. The application stands disposed of. CM No.7761/2016 in ITA 178/2016 CM No.9224/2016 in ITA 188/2016 3. For the reasons stated in the applications, the delay in filing the appeals is condoned. 4. The applications are disposed o....

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.... the Assessee had offered a satisfactory explanation, which has been accepted by the CIT(A) as well as the ITAT, that the aforementioned expenditure did not result in a capital asset of an enduring nature. Both the CIT (A) and the ITAT accepted that the expenditure was incurred only to update the website to keep pace with the development in technology, therefore, is not of a permanent character. T....