software. TTI promptly will update the source code in
escrow to reflect all revisions, modifications and
enhancements to the software that are provided to Reliance ... derivative works the
purposes specified in Section 11 .2 (the Derivative Works").
Reliance will be the exclusive owner of any modifications to
or Derivative
derived from the sale of software was not derived from
qualifying business i.e. telecommunication services. It has been observed
that development of software ... interference. Since the income earned from development of
software was not profit and gains derived from the eligible
business of providing Telecommunication service
worked out based on the non-speculative profits;
either it is from share delivery or from share
derivative."
8. From the above ... loss is to be worked out in respective
of the fact, whether it is from share delivery transaction or derivative
transaction.
8.1 Now, this view
that as per the I.T. Rules, only the computers and
computer software are eligible for depreciation of 60% and
the same cannot be extended ... derive long term benefits from the
recruitment and training of the employees. The employees
are recruited and a majority of them work for a long
DTAA do not permit taxability of receipt
from sale of
software as `Royalties', defined as per Article 13 , whose relevant
part
reads as under ... copyright of a
literary, artistic or scientific work, including
cinematograph films or work on films, tape or other
means of reproduction for use in connection
Asiatic Colourchem Indus.Ltd.,, ... vs Department Of Income Tax on 6 September, 2016
आयकर अपील
undertaking begins to manufacture or produce articles or things or
computer software, as the case may be, shall be allowed from the total
income ... purposes of sub-section (1), the profits derived
from export of articles or things or computer software shall be the
amount which bears
Software Exports Ltd. 14.635
2. Mapro Industries 8.620
3. Fortune Infotech Ltd. 87.710
4. Nucleus Net Soft & GIS Ltd. -14.030
5. Zigma Software ... were not derived from
industrial undertaking and certain income which are not
part of export turn over for the purpose of working out
deduction, took
literary works and ;
copyrights, musical compositions, copyrights, maps, engravings;
(d) data processing related intangible assets, such as, proprietary
computer software, software copyrights, automated databases ... literary works and
copyrights, musical compositions, copyrights, maps , engravings;
(d) data processing related intangible assets, such as, proprietary
computer software, software copyrights, automated databases
The Phoenix Mills Ltd, Mumbai vs Assessee on 6 October, 2016
IN THE INCOME TAX
