https://www.taxtmi.com/highlights?id=47000 Revision u/s 263 - AS 7 - construction of asset - block of asset is not restricted to building machinery plant or furniture but is extended to know-how patents Copyright etc - simulator with high configuration and technical input in design would definitely fall within the realm of an asset and the construction of such asset would definitely fall within the category of construction of asset and therefore AS 7 rightly been applied - revision quashed en-us Thu, 06 Jun 2019 10:08:21 +0530 Thu, 06 Jun 2019 10:08:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=47000 Revision u/s 263 - AS 7 - construction of asset - block of asset is not restricted to building machinery plant or furniture but is extended to know-how patents Copyright etc - simulator with high configuration and technical input in design would definitely fall within the realm of an asset and the construction of such asset would definitely fall within the category of construction of asset and therefore AS 7 rightly been applied - revision quashed Highlights Income Tax Thu, 06 Jun 2019 10:08:21 +0530 https://www.taxtmi.com/highlights?id=47000