Held that product development expenses is allowable as revenue expenditure as the project dropped and expenses written off. There is no new software in existence and no enduring benefit.(AY.2013-14)
Global Tech India P. Ltd. v. ITO (2024)114 ITR 59 (SN)(Ahd)(Trib)
S. 37(1) : Business expenditure-Capital or revenue-Product development expenses-Project dropped and expenses written off-No new software in existence and no enduring benefit-Allowable as revenue expenditure.