{"id":47418,"date":"2024-10-31T09:06:57","date_gmt":"2024-10-31T03:36:57","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-adadyn-technologies-pvt-ltd-2024465-itr-409-162-taxmann-com-667-sc-editorial-pcit-v-adadyn-technologies-pvt-ltd-2024465-itr-353-162-taxmann-com-666-karnhc\/"},"modified":"2024-12-26T12:11:59","modified_gmt":"2024-12-26T06:41:59","slug":"pcit-v-adadyn-technologies-pvt-ltd-2024465-itr-409-162-taxmann-com-667-sc-editorial-pcit-v-adadyn-technologies-pvt-ltd-2024465-itr-353-162-taxmann-com-666-karnhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-adadyn-technologies-pvt-ltd-2024465-itr-409-162-taxmann-com-667-sc-editorial-pcit-v-adadyn-technologies-pvt-ltd-2024465-itr-353-162-taxmann-com-666-karnhc\/","title":{"rendered":"PCIT v. Adadyn Technologies Pvt. Ltd. (2024)465 ITR 409\/162 taxmann.com 667 \/300 Taxman 112(SC) Editorial : PCIT v. Adadyn Technologies Pvt. Ltd. (2024)465 ITR 353 \/162 taxmann.com 666 (Karn)(HC)"},"content":{"rendered":"<p>Dismissing the appeals of the Revenue the High Court held that the assessee\u2019s investment to develop a software platform for desktops had become obsolete due to rapid change in the technology and the assessee had abandoned further development as a result of which it had abandoned the product and incurred a loss. The project having been abandoned, the assessee would not get any enduring benefit. The Tribunal, on a correct analysis of the facts, had held that the expenditure was revenue and not capital in nature. \u00a0SLP of Revenue is dismissed. (AY.2015-16, 2016-17)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1) : Business expenditure-Capital or revenue-Software Development expenses-Product abandoned on becoming obsolete due to development in technology-No enduring benefit-Allowable as revenue expenditure-SLP of Revenue is dismissed.[Art. 136] <\/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-47418","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-ckO","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/47418","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=47418"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/47418\/revisions"}],"predecessor-version":[{"id":49147,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/47418\/revisions\/49147"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=47418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=47418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=47418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}