Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights November 2014 Year 2014 This

Windows Server, 2003 and Abode Photoshop software - first one is ...


Windows Server 2003 and Adobe Photoshop expenses deemed capital due to long utility life for tax purposes.

November 13, 2014

Case Laws     Income Tax     AT

Windows Server, 2003 and Abode Photoshop software - first one is an operating system and the second one is application software - Both the softwares are also having fairly long utility life - the expenses incurred in acquisition of the softwares is capital in nature - AT

View Source

 


 

You may also like:

  1. Regarding long-term capital gain determination, indexed cost of acquisition claimed by assessee at Rs. 45 lakhs for property valued over Rs. 45 lakhs, evidenced by...

  2. Rate of tax on sale of depreciable assets - STCG vs LTCG - as per Section 112 of the Act, the tax on long term capital gains on transfer of a long term capital asset is...

  3. Set off of brought forward business loss and brought forward long term capital loss - capital gains computed u/s 50 is be deemed to be short-term capital gains and this...

  4. Revision u/s 263 by CIT - Wrong claim of carry forward of long term capital loss - the long term capital gain, which is exempted under section 10(38) of the Act, would...

  5. Setting off the long term capital loss arising on sale of shares not subject to STT against long term capital gain arising from sale of Shares subjected to STT exempt...

  6. Capital gain from sale of commercial property - intra-head adjustment of loss - Benefit of carry forward of long term capital loss on the sale of shares for the current...

  7. Transfer of capital asset by a company to its subsidiary company - Long term capital gain v/s long term capital loss - transaction cannot be regarded as transfer u/s...

  8. Long Term Capital Gain on relinquishment from utilization of business know-how - prior to 1st April 2003 such a payment is to be treated as capital receipt not liable for tax - AT

  9. Prayer for immediate restoration of the petitioner’s electricity supply - Section 238 of the IBC - dues of electricity supply to be cleared - This is not a case of...

  10. Non setting off the short term capital gain against long term capital loss brought forward - There is merit in the contentions of the appellant that prior to amendment...

  11. Capital Gain - Receipt of consolidated amount - where a gain from one of capital assets was a short-term capital gain while from other it was a long term capital gain,...

  12. Disallowing hoarding construction charges - huge expenses - long term utility - such expenditure is a recurring expenditure which is required to be incurred by the...

  13. Area based exemption - NTF no.49/2003 and 50/2003 - delay in filing of declaration - such procedural lapse would not result in denial of the benefit of notifications...

  14. The ITAT held that expenses claimed u/s 57(iii) lacked nexus with interest income earned on fixed deposits. The interest expenditure was for liquidation expenses, not...

  15. Amendment to notification no. 52/2003-Customs dated 31.03.2003 -reg.

 

Quick Updates:Latest Updates