https://www.taxtmi.com/highlights?id=63687 Nature of expenditure - Disallowing revenue expenditure on product testing prototyping and verification expenses - Expenditure was incurred only up-gradation of existing products, we are of the considered opinion that the expenditure is not in the nature of capital but revenue expenditure. - AT en-us Thu, 26 May 2022 12:09:28 +0530 Thu, 26 May 2022 12:09:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=63687 Nature of expenditure - Disallowing revenue expenditure on product testing prototyping and verification expenses - Expenditure was incurred only up-gradation of existing products, we are of the considered opinion that the expenditure is not in the nature of capital but revenue expenditure. - AT Highlights Income Tax Thu, 26 May 2022 12:09:28 +0530 https://www.taxtmi.com/highlights?id=63687