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Reg: impact of treating revenue exp as capital exp

This query is : Resolved 
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(Querist)
02 August 2018 Dear All
Software subscription charges paid annually was mistakenly capitalised in FY 2016-17. Subsequently it was realised that it is a revenue exp. On process of rectification the capital exp was written off. Whether this will lead to Section 37(1) disallowance.
Kindly clarify refering to the relevant section of IT Act
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CA Vijay Kumar Gupta

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CA Vijay Kumar Gupta (Expert)
03 August 2018 No disallowance can be made as it is incurred wholly, necessarily and exclusively for the purpose of business and very well covered u/s 37. Claim can be made by revising the return with in prescribed time .
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