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Software

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 July 2010 Hi
Can any one tell if C.A. firm purchase any software like Spectrum or Kitrit for income tax purpose then it will be call exp. or asset?
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CA Gangadhar Mishra

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CA Gangadhar Mishra (Expert)
11 July 2010 its a revenue expenses only.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
11 July 2010 The payment of such application software,though there is an enduring benefit, does not result in acquisition of a capital asset and it merely enhances the productivity or efficiency and hence, has to be treated as revenue expenditure.
Citation :- CIT Vs. Southern Roadways Ltd (2008) 304 ITR 84 (Mad).
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