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Case Law Details

Case Name : Bioplus Life Sciences Pvt. Ltd. Vs DCIT (Karnataka High Court)
Appeal Number : ITA No. 49 of 2012
Date of Judgement/Order : 24/08/2020
Related Assessment Year : 2006-07 & 2007-08
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Bioplus Life Sciences Pvt. Ltd. Vs DCIT (Karnataka High Court)

The issue under consideration is whether the expenditure incurred towards upgraded and development of a product was to be considered as capital expenditure or revenue expenditure?

High Court states that when an expenditure is made, not only once and for all, but with a view to bringing into existence an asset or an advantage for the enduring benefit of trade, there is very good reason for treating such an expen

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