Monday, 21 July 2014

Expenditure on upgradation, anti-virus and annual maintenance of software are allowable as revenue e

IT-I : Where assessee rendering detailed engineering services, made provision for costs on completed contracts in respect of various parties, in view of fact that in respect of some of parties liabilities were ascertained whereas in respect of other parties exact amount could not be quantified and provisions were contingent in nature, assessee's claim was to be partly allowed


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