2019 (8) TMI 1800

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....espondent : Mr. P. Pardiwalla, Sr. Advocate a/w Mr. M. Agarwal i/by Desai & Chinoy ORDER P.C.: 1. Heard. 2. The appeal is admitted for consideration of following substantial questions of law: (i) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in holding that the amortized amount of the premium on investments amounting to Rs. 1,18,23,413/- can....

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.... to 43B of the Income Tax Act, 1961? (iii) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in holding that profit of Rs. 34,77,000/- on sale of investment is exempt in view of the CBDT Circular No. 528 dated 16.12.1988 even though the said Circular was foe General Insurance Corporation of India and its subsidiaries which are wholly owned enterpris....

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....ing that acquisition of computer software amounting to Rs. 21,76,337/- by the assessee is not capital expenditure without appreciating that computer software acquired by the assessee creates enduring benefit and was a capital asset eligible for depreciation u/S. 32 of the Act? (c) Whether on the facts and in the circumstances of the case and in law, the Tribunal was correct in confirming that th....