https://www.taxtmi.com/highlights?id=56494 Nature of expenditure - expenditure incurred for development of a new product including knowhow - Thus expenditure incurred by the assessee being technical consultancy charges, purchase of raw materials, advertisement charges and electricity charges are in the nature of revenue expenditure, which does not give any enduring benefit to the assessee and hence, same cannot be treated as capital expenditure. - AT en-us Fri, 29 Jan 2021 14:54:48 +0530 Fri, 29 Jan 2021 14:54:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=56494 Nature of expenditure - expenditure incurred for development of a new product including knowhow - Thus expenditure incurred by the assessee being technical consultancy charges, purchase of raw materials, advertisement charges and electricity charges are in the nature of revenue expenditure, which does not give any enduring benefit to the assessee and hence, same cannot be treated as capital expenditure. - AT Highlights Income Tax Fri, 29 Jan 2021 14:54:48 +0530 https://www.taxtmi.com/highlights?id=56494