2024 (7) TMI 516 - SCH - Income Tax

Nature of expenditure - expenditure claimed by assessee as salaries and marketing expenditure for development of new software platform - revenue or capital expenditure - HELD THAT - As relying on passed by this Court 2024 (5) TMI 712 - SC ORDER this Special Leave Petition also stands dismissed as held Assessee has incurred expenditure in these two years to develop a software but due to change in technology it had to abandoned the product it had lost money spent on this product. The product having been abandoned the Assessee shall not get any endure in benefit and issue correctly decided in favour of assessee.. Pending application(s) if any shall also stand disposed of.

Summary

Issues:
Dismissal of Special Leave Petition based on a previous court order.

The Supreme Court, comprising HON'BLE MR. JUSTICE PAMIDIGHANTAM SRI NARASIMHA and HON'BLE MR. JUSTICE PANKAJ MITHAL, heard the counsel and made the following order. The delay was condoned. Mrs. Nisha Bagchi, a learned senior counsel, informed the court about the order passed on 13.05.2024 in SLP (C) D.No. 16157 of 2024. Consequently, the Special Leave Petition in question was dismissed in accordance with the previous order. Any pending applications were also disposed of as a result of this judgment.