https://www.taxtmi.com/caselaws?id=302018 The Tribunal allowed the assessee's appeal, classifying the research and development expenses as revenue expenditure. The Tribunal emphasized that the expenses were incurred in the regular course of the existing business and did not result in the creation of a new asset. This decision overturned the CIT(A)'s classification of the expenses as capital expenditure, based on the distinction between expenditures for ongoing business operations versus those for creating new assets. en-us Tue, 16 Apr 2019 00:00:00 +0530 Sat, 30 Apr 2022 20:32:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302018 The Tribunal allowed the assessee's appeal, classifying the research and development expenses as revenue expenditure. The Tribunal emphasized that the expenses were incurred in the regular course of the existing business and did not result in the creation of a new asset. This decision overturned the CIT(A)'s classification of the expenses as capital expenditure, based on the distinction between expenditures for ongoing business operations versus those for creating new assets. Case-Laws Income Tax Tue, 16 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302018