License Fee for Accounting Software Classified as Revenue, Not Capital Expenditure by Assessee.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Expenditure on obtaining license for use of accounting software - revenue or capital expenditure - the assessee has not purchased the software but has purchased the license to use this software for its accounting purposes. That is not capital expenditure but revenue expenditure.....