https://www.taxtmi.com/highlights?id=22132 Product Development Expenditure disallowed - there is no distinction as to whether the expenditure incurred is capital or revenue, because while the provisions of section 35(1) of the Act allows deduction of revenue expenditure, the provisions of section 35(1)(iv) of the Act allows deduction in respect of capital expenditure - AT en-us Tue, 17 Mar 2015 08:06:34 +0530 Tue, 17 Mar 2015 08:06:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=22132 Product Development Expenditure disallowed - there is no distinction as to whether the expenditure incurred is capital or revenue, because while the provisions of section 35(1) of the Act allows deduction of revenue expenditure, the provisions of section 35(1)(iv) of the Act allows deduction in respect of capital expenditure - AT Highlights Income Tax Tue, 17 Mar 2015 08:06:34 +0530 https://www.taxtmi.com/highlights?id=22132