https://www.taxtmi.com/caselaws?id=422962 The Tribunal allowed the appeal, determining that the expenditure on testing and validation for existing products was revenue expenditure, not capital. It was established that no new asset was created, and the expenditure facilitated existing business operations. Relying on legal precedents, the Tribunal directed the Assessing Officer to treat the expenditure as revenue, resulting in the allowance of the appeal. en-us Tue, 17 May 2022 00:00:00 +0530 Wed, 25 May 2022 10:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422962 The Tribunal allowed the appeal, determining that the expenditure on testing and validation for existing products was revenue expenditure, not capital. It was established that no new asset was created, and the expenditure facilitated existing business operations. Relying on legal precedents, the Tribunal directed the Assessing Officer to treat the expenditure as revenue, resulting in the allowance of the appeal. Case-Laws Income Tax Tue, 17 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422962