21 November 2022


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ITAT: Product Development Expenditure is ‘Revenue’ in Nature - 23.05.2022

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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