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ITAT: Product Development Expenditure is ‘Revenue’ in Nature - (23 May 2022)

DIRECT TAXATION

Income Tax Appellate Tribunal (ITAT), Pune bench has held that the expenditure incurred on testing and validation of the products is revenue in nature to allow deduction under the provisions of the Income Tax Act, 1961.

Tags : ITAT   INCOME-TAX ACT   1961   PRODUCT DEVELOPMENT EXPENDITURE   REVENUE  

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