2014 (7) TMI 1334 - SCH - Income Tax

Product Development Cost - Capital or Revenue - The development was on account of scientific research - evidence on record shows most of the money is spent towards cost of the employees, who had developed the product, multi channel customer relationship management solution, which provides sales, marketing, services, human resources and finance through the medium of e-mail, chat, wireless, fax, phone, etc. to the end users - The expenditure in respect of the scientific research, even if it is capital in nature as it was incurred in relation to the business carried on by the assessee under Section 35(1)(iv) - HELD THAT - SLP Dismissed.