{"id":23380,"date":"2022-01-06T10:18:35","date_gmt":"2022-01-06T04:48:35","guid":{"rendered":"https:\/\/itatonline.org\/digest\/karur-vysya-bank-ltd-v-cit-2021-438-itr-467-mad-hc-2\/"},"modified":"2022-04-17T06:37:02","modified_gmt":"2022-04-17T01:07:02","slug":"karur-vysya-bank-ltd-v-cit-2021-438-itr-467-mad-hc-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/karur-vysya-bank-ltd-v-cit-2021-438-itr-467-mad-hc-2\/","title":{"rendered":"Karur Vysya Bank Ltd. v. CIT (2021) 438 ITR 465 \/(2022) 284 Taxman 692  (Mad.)(HC)"},"content":{"rendered":"<p>Court held that the Tribunal was not justified in confirming the disallowance of software expenses as being relatable to capital field.\u00a0 Arrears of wages, Ex-gratia payment are allowable as business expenditure. Payment made to Registrar of\u00a0 Companies for increasing authorised capital is\u00a0 not allowable as revenue expenditure. \u00a0(AY. 1999-2000 to 2002-03, 2004-05 to 2006-07)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1) : Business expenditure-Capital or revenue-Software expenses-Arrears of  wages-Ex-gratia payment-Allowable as business expenditure-Payment made to Registrar of  Companies for increasing authorised capital-Not allowable as revenue expenditure. <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-23380","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-656","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=23380"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23380\/revisions"}],"predecessor-version":[{"id":26461,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23380\/revisions\/26461"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=23380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=23380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=23380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}