Home Highlights December 2013 Year 2013 This

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1. Expenditure on obtaining license for use of accounting software - revenue or capital expenditure - the assessee has not purchased the software but has purchased the...

2. Software expenses - revenue or capital expenditure - real intent and purpose - expenditure incurred by the assessee on software is allowable as revenue expenditure. - AT

3. Revenue expenditure versus capital expenditure - expenditure incurred on ERP Software – allowed as revenue expenditure - AT

4. The key issue relates to the classification of the cost of silt as capital or revenue expenditure. The Assessing Officer (AO) treated it as capital expenditure and...

5. Software expenditure having enduring benefit of not more than a year is revenue expenditure

6. Development of software - a revenue expenditure or capital expenditure? - only a revenue expenditure - HC

7. Software expenses - revenue v/s capital expenditure - software may be needed like raw material - computer software expenses were revenue in nature - HC

8. Disallowance of Forex Loss - although there was import of capital assets in those years when ECB loans were borrowed but there was substantial exports also and the...

9. Revenue or capital expenditure – software development expenditure – Assessee had treated the expenditure as a deferred revenue expenditure in the books of account and...

10. Software expenses - capital expenditure OR revenue expenditure - software having more than 2 years life - CIT(A) has held that expenditure on software for billet heater...

11. Nature of expenses - purchasing software licenses - revenue or capital expenditure - Fine tuning business operations to enable the management to run its business...

12. Bond issue expenses - Capital or revenue in nature - held as revenue expenditure - AT

13. Capital expenditure or revenue expenditure - the expenditure incurred in regaining this profit company unit is in the nature of a capital expenditure and not the revenue...

14. Revenue or capital expenditure - current repairs u/s 31 - overhead expenditure on construction - deductionallowed - AT

15. Nature of expenses - Expenses incurred on Enterprise Resource Planning (“ERP”) and software expenses - revenue or capital expenditure - in today’s fast changing...