https://www.taxtmi.com/caselaws?id=220545 The High Court upheld the Tribunal's decision regarding the allowability of Research & Development expenses claimed as capital expenditure by the assessee. The Court agreed that ongoing Research and Development efforts, even for products already marketed, justified the claimed expenditure under Section 35(1)(iv) of the Income Tax Act. The appeal challenging the Tribunal's decision was dismissed as the Court found no substantial question of law to consider, emphasizing the continuous nature of Research and Development activities and the potential for further product enhancements despite initial sales. en-us Wed, 09 Jan 2013 00:00:00 +0530 Wed, 30 Jan 2013 08:21:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220545 The High Court upheld the Tribunal's decision regarding the allowability of Research & Development expenses claimed as capital expenditure by the assessee. The Court agreed that ongoing Research and Development efforts, even for products already marketed, justified the claimed expenditure under Section 35(1)(iv) of the Income Tax Act. The appeal challenging the Tribunal's decision was dismissed as the Court found no substantial question of law to consider, emphasizing the continuous nature of Research and Development activities and the potential for further product enhancements despite initial sales. Case-Laws Income Tax Wed, 09 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220545