https://www.taxtmi.com/caselaws?id=376107 The Tribunal partially allowed the assessee's appeal by directing a reevaluation of certain incomes for deduction eligibility under Section 80IC. It recognized product development expenses as revenue expenditure rather than capital expenditure, as they enhanced the existing product line. The Tribunal upheld the CIT (Appeals) decision to restrict disallowance under Section 14A to a portion of exempt income related to investments in Indian companies. The Revenue's appeal was dismissed, affirming previous decisions in favor of the assessee regarding substantial expansion criteria for claiming deductions under Section 80IC. en-us Thu, 12 Jul 2018 00:00:00 +0530 Fri, 01 Mar 2019 10:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376107 The Tribunal partially allowed the assessee's appeal by directing a reevaluation of certain incomes for deduction eligibility under Section 80IC. It recognized product development expenses as revenue expenditure rather than capital expenditure, as they enhanced the existing product line. The Tribunal upheld the CIT (Appeals) decision to restrict disallowance under Section 14A to a portion of exempt income related to investments in Indian companies. The Revenue's appeal was dismissed, affirming previous decisions in favor of the assessee regarding substantial expansion criteria for claiming deductions under Section 80IC. Case-Laws Income Tax Thu, 12 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376107