I am Akshay Sharma from Axlr8r Formula Racing, IIT Delhi. We will be competing in FS India'15 in January.
We have built a Data Acquisition System from ground up using Arduino Microcontroller and sensors like linear potentiometers, IMU, gyro, wheel rpm and GPS.

The section S4.23.5 of 2014 rules states that :- "all data acquisition systems, sensors and wiring must be included in the Cost Report using the Cost Table prices."
In the next paragraph it is written:- "if an installed data logger is not separately included in the Cost Report, the vehicle must be capable of full operation with the data logger removed"

Now, we are confused whether to include our DAQ system in cost report. If yes then can any component be exempted among- arduino board, sensors and wiring?

The complete system can be removed without affecting vehicle operation capability except the LED display which is controlled by the same Arduino board used in DAQ.

Any clarification in this regard will be very helpful.