Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (8) TMI 20 - AT - Income TaxDisallowance of product development expenditure - revenue OR capital expenditure - Held that:- The product development expenditure is to be considered as capital expenditure and the assessee is entitled for depreciation at 15% on its capital asset as held for the assessment year 2006-07. Disallowance u/s.14A r.w.Rule 8D(2)(iii) - Held that:- As per sec.14A r.w. Rule 8D(2)(iii) is applicable and the assessee is not able to show as to how, it is not applicable to the assessee’s case. Hence, we are of the opinion that the CIT(Appeals) has taken a correct view and we confirm the order of the CIT(Appeals).
|