(f) experimental development aimed at filling technology knowledge gaps as necessary to develop a software programme or system; (g) research and development on software tools or technologies in specialised areas of computing (image processing, geographic data presentation, character recognition, artificial intelligence and other areas); (h) upgradation of existing products where source code has been made available by the principal; (vii) “core auto components” means the following, namely: (a) engine and engine parts including piston and piston rings; engine valves and parts; cooling systems and parts; and power train components; (b) transmission & steering parts, including gears, wheels, steering systems, axles and clutches; (c) suspension & braking parts, including brake and brake assemblies, brake linings, shock absorbers and leaf springs; (viii) “Non-core auto components” mean auto components other than core auto components; (ix) “No tax or low tax country or territory” means a country or territory in which- maximum marginal rate of income-tax is zero or less than 15 per cent. in respect of the associated enterprise. (x) “operating expense” means the costs of the assessee incurred during the course of its normal operations and in connection with eligible international transactions for the previous year including depreciation and amortization expenses relating to the assets used by the assessee, but excluding the following, namely:- (a) interest expense; (b) provision for unascertained liabilities; (c) pre-operating expenses; (d) loss arising out of translation of foreign currency items; (e) extra-ordinary items; (f) loss on sale of assets/investments of the assess
Posted on: Mon, 19 Aug 2013 07:05:41 +0000
Trending Topics
Recently Viewed Topics
© 2015