ITAT Allows Software Expenses as Revenue Because Licences Were Short-Term and Non-Exclusive

Edgeverve Systems Limited Vs ACIT (ITAT Bangalore) Depreciation on Intangible Assets Allowed Because No Succession of Entire Business Took Place; Sixth Proviso to Section 32 Not Applicable Because Predecessor Claimed No Depreciation; Weighted R&D Deduction Allowed Because Rules Cannot Override Section 35(2AB); Foreign Tax Deduction Remanded Because Nature of Tax Requires Verification; Remand by Commissioner (Appeals) Held Invalid Because Post-2001 Powers Are Limited; Goodwill, Technology and Business Contracts Held Eligible Because They Are Commercial Rights The Income Tax Appellate Tribun...