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.

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)

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