2018 (11) TMI 1632

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....hri AR.V. Sreenivasan, JCIT For the Respondent : Shri Ashit Agrawal, CA ORDER PER N.R.S. GANESAN, JUDICIAL MEMBER: The Revenue has filed the present Miscellaneous Petition praying for recall of order of this Tribunal dated 31.05.2017 on the ground that the appeal was filed before this Tribunal due to audit objection. 2. Shri AR.V. Sreenivasan, the Ld. Departmental Representative, submitted t....

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.... assessee admittedly claimed Rs. 16,16,000/- during the year under consideration towards software licence fee and claimed the same as revenue expenditure. In fact, the Assessing Officer allowed the claim of the assessee as revenue expenditure. The Audit Wing of the Department examined the records of the assessee and found that the licence fee paid for software is not a revenue expenditure and it h....

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....see, the Assessing Officer reopened the assessment by issuing notice under Section 148 of the Income-tax Act, 1961 (in short 'the Act'). Therefore, the Commissioner directed the Assessing Officer to file an appeal. This Tribunal is of the considered opinion that licence fee paid to obtain software is nothing but revenue expenditure. Moreover, the Assessing Officer has rightly reiterated th....