Expenditure on ‘Application Software’ is revenue – Delhi High Court

Expenditure on 'Application Software' is revenue – Delhi High Court Posted: 06 Nov 2011 01:54 AM PDT CIT vs. Asahi India Safety Glass Ltd (Delhi High Court) - Software is nothing but another word for computer programmes, i.e., instructions, that make the hardware work. Software is broadly of two types, i.e., the systems software, which is also... [[ This is a content summary only. Visit www.taxguru.in for full article ]] CA attacks BSP Secretary and Builder with chopper Posted: 05 Nov 2011 11:53 PM PDT On Saturday, the Maharashtra Secretary of Bahujan Samaj Party (BSP), who is also a builder involved in the development of a Slum Rehabilitation Authority (SRA) project in Bhandup, was brutally attacked by his chartered accountant in his house.... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Development of customized software is not works contract and hence not subject to levy of VAT under Karnataka Value Added Tax Act, 2003 Posted: 05 Nov 2011 11:48 PM PDT M/s Sasken Communication v. Joint Commissioner, Commercial Taxes & Ors (Karnataka High Court) The contract for development of software in question are not works contract but contract for service simplicitor and hence not liable to tax under the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Registration Process under Punjab VAT Act, 2005 needs to be changed? Posted: 05 Nov 2011 11:12 PM PDT Section 21 of Punjab VAT Act, 2005 read with Rules 3,4,5,6 of Punjab VAT Rules provides the process for registration. Second proviso to section 21(3) of Punjab Vat Act, 2005 provides that during the pendency of an application for registration the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Assessee's AO cannot question Creditor's Income Tax Return instead he should inquire with creditor's AO Posted: 05 Nov 2011 10:30 PM PDT CIT vs. Dataware Pvt Ltd (Calcutta High Court) The assessee company received share application money of Rs.1 Crore from M/s. Harrington Traders Pvt. Ltd. (hereinafter referred to as the creditor). During the assessment proceedings the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Deduction u/s. 80HHE has to be worked out on the basis of adjusted book profit under Section 115JA and not on the basis of the profits computed under regular provisions of law – SC Posted: 05 Nov 2011 10:13 PM PDT CIT vs. Bhari Information Tech Systems (Supreme Court) - Deduction under Section 80HHC (Section 80HHE also falls in Chapter VI‐A) is to be worked out not on the basis of regular income tax profits but it has to be worked out on the basis of the... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Ex students of St. Stephens College may form an alumnus association but may not use Name of St. Stephens Posted: 05 Nov 2011 09:49 PM PDT Stephens College, Delhi vs. St. Stephens College Alumni Association and Others (Delhi High Court ) For the reasons given in the preceding paragraphs, defendant No. 1 is restrained from using the name St. Stephens College Alumni Association. It is... [[ This is a content summary only. Visit www.taxguru.in for full article ]] Merely because the benefit under the notification was not claimed before the original Adjudicating Authority is no ground for denying benefit under the notification if the assessee is otherwise entitled to the same Posted: 05 Nov 2011 09:30 PM PDT  Facts are not in dispute. It is an admitted position that the aggregate value of services in the case of the assessee as quantified by the department is Rs.1,98,543/-. Notification No.6/2005-Service Tax dated 1st March, 2005 exempts taxable... [[ This is a content summary only. Visit www.taxguru.in for full article ]]