Existing hardware/software maintenance expense is revenue expense

DCIT Vs Gujarat Industries Power Co. Ltd (ITAT Ahmedabad) Facts- The main issues/ grounds that are to be considered in the present appeals are – 1. Disallowance of corporate debt restructuring expenses; 2. Disallowance on upgradation of software expenses; 3. Loss due to foreign exchange difference rate. Conclusion- With regard to disallowance of corporate debt restructuring expenses it is held that this issue is been settled by the judgement of the honourable Supreme Court in the case of India cements Ltd wearing it is held that loan is not an asset or a advantage of enduring nature and expe...