Daily Archive: Saturday, March 26, 2016

Expenditure incurred for software development are capital expenditure

Author: | Categories: High Courts, Income Tax, Judgments No comments
Calcutta High Court in a recent judgment has held that expenditure incurred for software development was  capital expenditure Case Details: ITA No. 278 OF 2007 Indian Aluminium Co. Ltd Versus Commissioner of Income Tax-III Kolkata Date of Judgment: 18/03/2016 Question of Law: Whether on the facts and in the circumstances

 

Exemption u/s 10(22A) 10(23C)(iiiac)-Nexus between activities of hospital/institution and the income is essential for claim

Author: | Categories: High Courts, Income Tax, Judgments No comments
In a recent judgment, Calcutta High Court has held that to claim exemption under section 10(22A), existence of a nexus between the hospital or an institution engaged in any one of the five activities, and the income is essential. Kindly note that the said section 10(22A) has since been omitted