https://www.taxtmi.com/caselaws?id=67674 The Tribunal dismissed the Department's appeal and allowed the assessee's cross-objection, determining that the expenses related to the development cost of prototypes of precision instruments were revenue in nature. The expenses were held to be allowable under section 37 of the Income Tax Act as they were integral to the profit-making process and did not result in an enduring advantage. Furthermore, the expenses were deemed allowable under section 35(1)(ii) due to their association with scientific research conducted by the C.S.I.R. en-us Wed, 13 Apr 1977 00:00:00 +0530 Sat, 12 Mar 2011 13:00:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67674 The Tribunal dismissed the Department's appeal and allowed the assessee's cross-objection, determining that the expenses related to the development cost of prototypes of precision instruments were revenue in nature. The expenses were held to be allowable under section 37 of the Income Tax Act as they were integral to the profit-making process and did not result in an enduring advantage. Furthermore, the expenses were deemed allowable under section 35(1)(ii) due to their association with scientific research conducted by the C.S.I.R. Case-Laws Income Tax Wed, 13 Apr 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67674