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Income Tax - Highlights / Catch Notes

Home Highlights July 2016 Year 2016 This

Product Development Expenditure incurred in the ordinary course ...

Income Tax

July 2, 2016

Product Development Expenditure incurred in the ordinary course of business for promoting existing brands, sustaining market and to push up the sales is Revenue expenditure

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  1. Product Design Development expenditure - revenue or capital expenditure - not incurred for development of a new product or new line of business - The expenditure...

  2. Nature of expenditure - expenses incurred on account of professional and legal fees - The expenses are not incurred for exploring the market for a new product and rather...

  3. Product Development expenditure - Development of new product - AIt was a case of expansion of existing business of the assessee of manufacturing liners by diversifying...

  4. Die tooling charges as revenue expenditure or capital expenditure - It was held to be revenue in nature since the expenditure were incurred for modernization of existing...

  5. Amendment of the existing policy on Foreign Direct Investment in Single-Brand Product Retail Trading - FDI GUIDELINES

  6. Nature of expenditure incurred towards research and development - The fact that the expenses incurred by the assessee towards research and expenses have been met out of...

  7. Computation of capital gains - The expenditure incurred in pursuant to or as an obligation under the Joint Development Agreement can be claimed as business expenditure...

  8. Disallowance of expenditure incurred in construction of house meant for flood victims called 'Social Welfare Expenditure' - Mere bald assertion that the expenditure was...

  9. Disallowance of land development charges - onus is on the assessee to establish on evidence that the land development expenses were incurred wholly and exclusively for...

  10. Addition of community development expenditure by observing that this expenditure is not related to the business activity of the assessee - In assessee’s case has...

 

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