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of <h1>Supreme Court Rejects Special Leave Petition Due to Lack of Grounds for Interference; Pending Application Also Dismissed.</h1> The SC dismissed the Special Leave Petition filed under Art. 136 of the Indian Constitution, concluding that no grounds for interference were established. ... Nature of expenditure - expenditure in connection with the development of new products / software - revenue or capital expenditure - As decided by HC [2022 (12) TMI 190 - BOMBAY HIGH COURT] appellant is admittedly in the business of development of software solution and management, and therefore, it’s endeavour to develop a new software was nothing but an endeavour in its existing line of business of developing software solutions. Admittedly, the product which was sought to be developed, never came into existence and the same was abandoned. No new asset came into existence which would be of an enduring benefit to the assessee, and therefore, in these circumstances, the expenditure could only be said to be revenue in nature. HELD THAT:- No case for interference is made out in exercise of our jurisdiction under Article 136 of the Constitution of India. The Special Leave Petition is accordingly dismissed. The Supreme Court dismissed the Special Leave Petition under Article 136 of the Constitution of India as no case for interference was made out. The pending application was also disposed of. No appearance was made on behalf of the respondent.
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