https://www.taxtmi.com/caselaws?id=400662 The ITAT dismissed the Revenue's appeals for A.Y. 2013-14 and A.Y. 2014-15, upholding the CIT(A)'s decision to allow Product Development Expenses as revenue expenses. The ITAT found no violation of Rule 46A, emphasizing the recurring nature of the expenses without resulting in enduring benefits or new assets. The appeals were dismissed, affirming the treatment of expenses as revenue in alignment with past decisions and judicial precedents. en-us Tue, 10 Nov 2020 00:00:00 +0530 Thu, 12 Nov 2020 12:51:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400662 The ITAT dismissed the Revenue's appeals for A.Y. 2013-14 and A.Y. 2014-15, upholding the CIT(A)'s decision to allow Product Development Expenses as revenue expenses. The ITAT found no violation of Rule 46A, emphasizing the recurring nature of the expenses without resulting in enduring benefits or new assets. The appeals were dismissed, affirming the treatment of expenses as revenue in alignment with past decisions and judicial precedents. Case-Laws Income Tax Tue, 10 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400662