Depreciation allowed on intangible assets acquired on or after 1st April, 1998 – Expenditure on acquiring database cannot be claimed as revenue expenditure

ACIT Vs American Express Services India Ltd. (ITAT Mumbai)- We find that it is not in dispute that the transaction between the assessee and American Express Bank, inter alia, including for purchase of Acquired Business Database were subjected to transfer pricing scrutiny and, the Trans

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