https://www.taxtmi.com/caselaws?id=330636 The Tribunal upheld the disallowance of product development expenditure as capital expenditure, emphasizing the enduring business benefits provided by the acquired software. The decision cited ownership of software as a tangible asset justifying depreciation. Additionally, the Tribunal confirmed the disallowance under section 14A r.w. Rule 8D(2)(iii) for the assessment years 2009-10 and 2010-11, based on the application of Rule 8D(2)(ii) to dividends received from foreign subsidiary companies. The appeals of the assessee were dismissed, and the orders were pronounced on July 15, 2016, in Chennai. en-us Fri, 15 Jul 2016 00:00:00 +0530 Mon, 01 Aug 2016 14:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330636 The Tribunal upheld the disallowance of product development expenditure as capital expenditure, emphasizing the enduring business benefits provided by the acquired software. The decision cited ownership of software as a tangible asset justifying depreciation. Additionally, the Tribunal confirmed the disallowance under section 14A r.w. Rule 8D(2)(iii) for the assessment years 2009-10 and 2010-11, based on the application of Rule 8D(2)(ii) to dividends received from foreign subsidiary companies. The appeals of the assessee were dismissed, and the orders were pronounced on July 15, 2016, in Chennai. Case-Laws Income Tax Fri, 15 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330636