{"id":53036,"date":"2025-04-21T14:45:45","date_gmt":"2025-04-21T09:15:45","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-gujarat-industries-power-co-ltd-2024-471-itr-525-guj-hc\/"},"modified":"2025-04-21T14:45:45","modified_gmt":"2025-04-21T09:15:45","slug":"pcit-v-gujarat-industries-power-co-ltd-2024-471-itr-525-guj-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-gujarat-industries-power-co-ltd-2024-471-itr-525-guj-hc\/","title":{"rendered":"PCIT v. Gujarat Industries Power Co. Ltd. (2024) 471 ITR 525 (Guj) (HC)"},"content":{"rendered":"<p>Dismissing the appeal of the Revenue the Court held \u00a0expenditure incurred on capital stores and spares and the expenditure on account of replacement of spares of machinery as revenue expenditure. Court also held that \u00a0Tribunal was justified in deleting the addition of net of depreciation being expenses incurred on software as revenue expenditure.(AY. 2005-06)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1) : Business expenditure-Capital or revenue-Expenditure on capital stores and spares-replacement of spares of machinery-Allowable  as revenue expenditure-Expenses incurred on software  for facilitating trading operation is revenue expenditure. [S. 32, 260A]<\/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-53036","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-dNq","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/53036","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=53036"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/53036\/revisions"}],"predecessor-version":[{"id":53037,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/53036\/revisions\/53037"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=53036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=53036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=53036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}