There is no concept of deferred revenue expenditure

Advertisement DCIT Vs Axsys Health Tech Limited (ITAT Hyderabad) Held that there is no concept of deferred revenue expenditure but the assessee is entitled to depreciation on the assets so capitalized and put to use for the software services related to health care. Facts- AO noted that the assessee was initially engaged in the business of running a Hospital and was formerly known as Dr Ramayyas Pramila Hospitals Ltd up to the FY 1999-2000. During the FY 1999-2000, the assessee changed its main objects clause to provide for the development and marketing of health-care-related software servic...