Nature of expenditure - business of development of software ...
Income Tax
December 5, 2022
Nature of expenditure - business of development of software solution and management - admittedly, the product which was sought to be developed, never came into existence and the same was abandoned. No new asset came into existence which would be of an enduring benefit to the assessee, and therefore, in these circumstances, the expenditure could only be said to be revenue in nature. - HC
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