Expenditure of customer contracts & assembled workforce which will give enduring benefit is capital in nature

Advertisement Genpact Services LLC Vs DCIT (ITAT Delhi) ITAT Delhi held that expenditure of customer contracts and assembled workforce incurred which will give enduring benefits to the assessee is capital expenditure. Accordingly, depreciation is allowable on the same. Facts- As could be seen from the grounds raised, basically, two issues arise for consideration. Firstly, whether the expenditure incurred by the assessee for acquiring customer contracts and assembled workforce from M/s. Genpact India is revenue or capital in nature and secondly, whether learned first appellate authority was ...