2019 (8) TMI 1800

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....hakur & Mohinee Chaugule For the Respondent : 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 premi....

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....against the allowance of such expenditure under Sections 30 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 Corporat....

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....or depreciation u/S. 32 of the Act? (b) Whether the Tribunal was correct in holding 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....

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....evenue expenditure. We do not find any error. Similar issue was examined by this Court in order dated 4.12.2018 passed in Income Tax Appeal No. 778 of 2016 and connected appeal. These questions are, therefore, not considered. As far as Question Nos. (c) and (d) are concerned, we have examined these questions in Income Tax Appeal No. 541 of 2017 and not entertained them. Without recording sep....