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2013 (1) TMI 649 - PUNJAB & HARYANA HIGH COURTResearch & Development expenses - capital or revenue expenditure - product already being marketed - Held that:- Development of new project through Research is a continuous process because technology is changing very fast . Thus, even if assessee has developed 14 Pin Double Decker Relay Socket and 48x96 panel meter but still the prototype may require further improvement. Mere selling of units will not show that the assessee already has the technology of the same product Even if a specific product has been sold at one stage, but still the developments in the product can be carried out. It is finding of fact recorded by the Tribunal that the assessee has incurred expenditure for research and development activities, thus no substantial question of law arises for consideration.
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