https://www.taxtmi.com/caselaws?id=262550 The court dismissed the appeal of a private limited company in the telecommunications sector regarding deferred revenue expenditure for product development. The court upheld the decision that such expenditure should be claimed in the year incurred under section 35 of the Income-tax Act. The court found the Explanation to section 35 not applicable as the business had already commenced. The court also dismissed the argument for deduction of prior year's expenditure, ruling against the appellant on all issues raised. en-us Mon, 06 Apr 2015 00:00:00 +0530 Thu, 13 Aug 2015 07:01:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262550 The court dismissed the appeal of a private limited company in the telecommunications sector regarding deferred revenue expenditure for product development. The court upheld the decision that such expenditure should be claimed in the year incurred under section 35 of the Income-tax Act. The court found the Explanation to section 35 not applicable as the business had already commenced. The court also dismissed the argument for deduction of prior year's expenditure, ruling against the appellant on all issues raised. Case-Laws Income Tax Mon, 06 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262550