https://www.taxtmi.com/caselaws?id=437305 The Tribunal upheld the CIT(A)'s decision to delete the disallowance under Section 14A of the Income Tax Act as no exempt income was earned. Additionally, the Tribunal confirmed the treatment of R&D expenditure as revenue expenditure, not capital, for developing products as per customer specifications. The Department's appeals for assessment years 2014-15, 2015-16, and 2016-17 were dismissed. en-us Wed, 26 Apr 2023 00:00:00 +0530 Tue, 02 May 2023 10:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437305 The Tribunal upheld the CIT(A)'s decision to delete the disallowance under Section 14A of the Income Tax Act as no exempt income was earned. Additionally, the Tribunal confirmed the treatment of R&D expenditure as revenue expenditure, not capital, for developing products as per customer specifications. The Department's appeals for assessment years 2014-15, 2015-16, and 2016-17 were dismissed. Case-Laws Income Tax Wed, 26 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437305