Fees for use of Software is revenue in nature and allowable U/s. 37

Advocate Akhilesh Kumar Sah License fee, Connectivity charges and co-ordination charges paid to a US based company GE Capital Corporation for use of ‘Vision Plus’ software held to be revenue in nature and allowable under section 37 Whether a particular expenditure is of a nature of capital or revenue, depends to a large extent upon facts and circumstances of the case. Help is also taken from the decided cases as the Income-tax Act, 1961 (hereinafter ‘the Act’) does not define capital or a revenue expenditure. Recently, in D.C.I.T. vs. G.E. Capital Business Process M...