Dismissing the appeal of the revenue the Tribunal held that expenses for upgradation and renewal of existing software is held to be revenue expenditure. ( AY.2003-04, 2004-05)
Dy. CIT v. Cadence Design Systems (India) P. Ltd. (2020) 81 ITR 35 (SN) ( Delhi ) (Trib)
S.37(1): Business expenditure -Capital or revenue – Expenses for upgradation and renewal of existing software — Revenue Expenditure.