This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Capital expenditure/ revenue expenditure – No reassessment in subsequent years – Reassessment quashed
Case Law Details
- Case Name
- DCIT Vs India Infoline Insurance Services Pvt. Ltd. (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2005-06
- Courts
- All ITAT, ITAT Mumbai
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Assessee-Company,engaged in the business of life insurance,filed its return of income on 29/10/2005 declaring total income at Rs.3 1.19 lakhs. The return was processed u/s. 143(1) of the Act on 30/03/2007.Later on a notice u/s 147 of the Act was issued by the AO.From the assessment records,the AO found that assessee had entered into an agreement with M/s India Infoline Ltd. to pay software services amounting to Rs.90 lakhs for information technology to be provided by it.As per the AO,same were of enduring in nature and therefore the expenditure incurred by it had to be treated as capital expen...
