https://www.taxtmi.com/caselaws?id=752606 The HC of Karnataka upheld the ITAT's decision, concluding that the expenditure incurred by the assessee for developing a software platform should be treated as revenue in nature. The court agreed that the abandonment of the project due to technological changes meant there was no enduring benefit, dismissing the Revenue's appeals and ruling in favor of the assessee. en-us Mon, 10 Apr 2023 00:00:00 +0530 Wed, 28 Aug 2024 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752606 The HC of Karnataka upheld the ITAT's decision, concluding that the expenditure incurred by the assessee for developing a software platform should be treated as revenue in nature. The court agreed that the abandonment of the project due to technological changes meant there was no enduring benefit, dismissing the Revenue's appeals and ruling in favor of the assessee. Case-Laws Income Tax Mon, 10 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752606