https://www.taxtmi.com/caselaws?id=218604 The Tribunal allowed the assessee's appeal regarding the nature of expenditure on product development, treating it as revenue expenditure. It upheld the Commissioner of Income-tax (Appeals)'s decision on the eligibility to carry forward losses for undertakings under Section 10A, permitting the carry forward of losses. Additionally, the Tribunal affirmed the inclusion of foreign exchange fluctuation gains in the assessee's deduction claim under Section 10A. The Revenue's appeals were dismissed in all instances (ITA No 1179/PN/09 for AY 2003-04, ITA No 1205/PN/09 for AY 2003-04, ITA No 1206/PN/09 for AY 2004-05, ITA No 466/PN/11 for AY 2007-08). en-us Fri, 27 Jul 2012 00:00:00 +0530 Wed, 06 Apr 2016 17:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218604 The Tribunal allowed the assessee's appeal regarding the nature of expenditure on product development, treating it as revenue expenditure. It upheld the Commissioner of Income-tax (Appeals)'s decision on the eligibility to carry forward losses for undertakings under Section 10A, permitting the carry forward of losses. Additionally, the Tribunal affirmed the inclusion of foreign exchange fluctuation gains in the assessee's deduction claim under Section 10A. The Revenue's appeals were dismissed in all instances (ITA No 1179/PN/09 for AY 2003-04, ITA No 1205/PN/09 for AY 2003-04, ITA No 1206/PN/09 for AY 2004-05, ITA No 466/PN/11 for AY 2007-08). Case-Laws Income Tax Fri, 27 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218604