This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Mere transfer of unexpired contracts cannot be treated as Capital Expenditure
Case Law Details
- Case Name
- Tata Consultancy Services Ltd. (Upon merger of TCS e-serve Limited with Tata Consultancy services Ltd.) Vs ACIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 1999-00, 2000-01 & 2001-02
- Courts
- All ITAT, ITAT Mumbai
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Brief Facts and Question of Law:
Brief Facts of the Assessee:
There are 2 matters involved in the appeal filed which are explained as below:
1st Matter – The assessee company is operating as Non-Banking Financial Company (NBFC). Due to downturn in NBFC business during the year ended 30.06.1998 and the defaults faced by the company in leasing business, the assessee company decided to reduce its dependence on volatile sources of revenue and complement the existing revenue streams with greater proportion of revenues of a stable and annuity nature. The assessee company pai...
