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2016 (1) TMI 178 - AT - Income TaxDisallowance on account of write off of technical know- how - intangible asset was very much in existence as on 01.04.2004 - CIT(A) allowed the claim - Held that:- when an organization manufacturing a given product, incurs some expenditure on improvement of technology used in the manufacture of the said product, then, said expenditure shall constitute an expenditure incurred for better conduct of business and hence shall be revenue in nature. In the given case, the assessee was already engaged in the manufacture of SNR products. The assessee had merely incurred the expenditure to upgrade itself technologically, i.e. to produce the same product with a better technology Therefore, we are of the view that the said expenditure constitutes revenue expenditure - Decided in favour of assessee
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