Nature of expenditure - expenditure incurred on Research & ...

Defense Aircraft R&D Costs Deemed Business-Related, Eligible as Revenue Expenditure Under Income Tax Act Section 35(1)(iv) &D.

September 1, 2021

Case Laws Income Tax AT

Nature of expenditure - expenditure incurred on Research & Development - revenue or capital expenditure - The expression “related to business” is used in section 35(1)(iv) of the I.T.Act is an expression of wide import and it means associated with or connected with. The assessee is using research outcome for its business of manufacturing Defence Aircrafts, and hence, it cannot be denied that research is related to its business - Claim allowed - AT

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Nature of expenditure - expenditure incurred on Research & ...

Defense Aircraft R&D Costs Deemed Business-Related, Eligible as Revenue Expenditure Under Income Tax Act Section 35(1)(iv) &D.

September 1, 2021

Case Laws Income Tax AT

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