https://www.taxtmi.com/caselaws?id=470499 Product-development expenditure incurred for new parts, improvements and prototypes was treated as revenue expenditure because no material supported the assumption that it created a patent, know-how or other intangible asset; the related disallowance was deleted. The Form 26AS-based income addition was restored for merits-based examination because the furnished reconciliation and reasons for differences had not been addressed. Ad hoc disallowances of housekeeping and other expenses were also restored for fresh verification, as they were based only on ledger narrations and increased expenditure without identifying defects, rejecting the books, or examining supporting records. en-us Wed, 16 Mar 2022 00:00:00 +0530 Wed, 29 Jul 2026 17:21:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470499 Product-development expenditure incurred for new parts, improvements and prototypes was treated as revenue expenditure because no material supported the assumption that it created a patent, know-how or other intangible asset; the related disallowance was deleted. The Form 26AS-based income addition was restored for merits-based examination because the furnished reconciliation and reasons for differences had not been addressed. Ad hoc disallowances of housekeeping and other expenses were also restored for fresh verification, as they were based only on ledger narrations and increased expenditure without identifying defects, rejecting the books, or examining supporting records. Case-Laws Income Tax Wed, 16 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470499