https://www.taxtmi.com/caselaws?id=282565 The Tribunal upheld the CIT(A)'s decision that product development expenses were revenue in nature as they were incurred in the existing line of business. The Tribunal also confirmed the recomputation of depreciation based on the actual disallowed depreciation for a previous year. The issue of reopening assessment u/s 147 was deemed academic due to the impact of a previous year's decision on subsequent years. Consequently, both department and assessee appeals were dismissed. en-us Wed, 20 Jan 2010 00:00:00 +0530 Tue, 13 Aug 2019 12:26:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282565 The Tribunal upheld the CIT(A)'s decision that product development expenses were revenue in nature as they were incurred in the existing line of business. The Tribunal also confirmed the recomputation of depreciation based on the actual disallowed depreciation for a previous year. The issue of reopening assessment u/s 147 was deemed academic due to the impact of a previous year's decision on subsequent years. Consequently, both department and assessee appeals were dismissed. Case-Laws Income Tax Wed, 20 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282565