{"id":49200,"date":"2024-12-28T10:38:25","date_gmt":"2024-12-28T05:08:25","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-adadyn-technologies-p-ltd-2024-300-taxman-112-sc-editorial-pcit-v-adadyn-technologies-p-ltd-2024-162-taxmann-com-666-karnhc\/"},"modified":"2024-12-28T10:38:25","modified_gmt":"2024-12-28T05:08:25","slug":"pcit-v-adadyn-technologies-p-ltd-2024-300-taxman-112-sc-editorial-pcit-v-adadyn-technologies-p-ltd-2024-162-taxmann-com-666-karnhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-adadyn-technologies-p-ltd-2024-300-taxman-112-sc-editorial-pcit-v-adadyn-technologies-p-ltd-2024-162-taxmann-com-666-karnhc\/","title":{"rendered":"PCIT v. Adadyn Technologies (P.) Ltd. (2024) 300 Taxman 112 (SC) Editorial : PCIT v. Adadyn Technologies (P.) Ltd. (2024) 162 taxmann.com 666 (Karn)(HC)"},"content":{"rendered":"<p>Assessee-company is\u00a0 engaged in business of rendering customized internet advertising services for advertisers which could be used on desktop.\u00a0 In order to develop its software, assessee had incurred certain expenditure. Assessing Officer treated said expenditure as capital in nature. Tribunal held allowable as revenue expenditure.\u00a0 High Court held that since product developed by assessee had become obsolete due to rapid change in technology and assessee had abandoned further development of same, expenditure incurred by assessee was to be treated as revenue in nature. SLP of Revenue is dismissed. (AY. 2015-16,\u00a0 2016-17)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 37(1) : Business expenditure-Capital or revenue-Software development-Allowable as revenue expenditure-SLP of Revenue expenditure.[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-49200","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-cNy","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/49200","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=49200"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/49200\/revisions"}],"predecessor-version":[{"id":49201,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/49200\/revisions\/49201"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=49200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=49200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=49200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}