Deduction u/s 35(2AB) - research and development expenses - The ...

Tax Deduction for R&D Expenses u/s 35(2AB) Allowed Without Quantum Approval Before July 1, 2016 Amendment.

March 1, 2022

Case Laws Income Tax AT

Deduction u/s 35(2AB) - research and development expenses - The position is clear that prior to amendment introduced w.e.f. 01/07/2016, the deduction u/s 35(2AB) of the Act would be available to an assessee having an approved in-house R&D facility by the prescribed Authority Act and there is no mention of approval of the ‘quantum’ of expenditure in the law as it stood prior to that date. The mandate of quantification of expenditure has been put in place only w.e.f. 01.07.2016. - Claim allowed - AT

View Source

← Previous Next →

Deduction u/s 35(2AB) - research and development expenses - The ...

Tax Deduction for R&D Expenses u/s 35(2AB) Allowed Without Quantum Approval Before July 1, 2016 Amendment.

March 1, 2022

Case Laws Income Tax AT

You may also like:

TP adjustment of interest - CIT(A) confirmed upward adjustment towards interest by adopting rupee loan rate instead of LIBOR linked rate in respect of foreign currency...

Weighted deductions claimed u/s 35(2AB) - The petitioner challenged the restriction of the eligibility period for weighted deductions on R&D expenditure, contending it...

ITAT affirmed weighted deduction eligibility u/s 35(2AB) for in-house scientific research expenditure. While R&D expenses incurred within India qualify for weighted...

Claim of weighted deduction @ 200% made us/ 35(2AB) - need for production of Form NO.3CL - The year under consideration being AY 2014-15, the same would fall prior to...

Expenses under the head research and development - deduction of such expenses under the provisions of section 37(1) OR u/s 35 - the genuineness of the expenses cannot be...

Deduction u/s 35(2AB) - Expenditure which was not eligible for weighted deduction u/s 35(2AB) - scientific research and development expenditure - such R&D expenditure...

Weighted deduction u/s.35(2AB) - capital and revenue expenditure incurred on in-house R & D facility - It is not in dispute that the Assessee in the present case...

Exemption u/s 35(2AB) - there was no approval in form No. 3CM - what is relevant to decide eligibility for weighted deduction u/s 35(2AB) is existence of R&D facility...

Unapproved revenue expenditure if not allowable u/s 35(2AB) of the Act, in absence of approval from DSIR, certainly can be allowed as deduction u/s 35(1)(i) and 37(1) of...

The assessee claimed weighted deduction u/s 35(1)(ii) for donation made to M/s Shri Arvindo Institute of Applied Scientific Research Trust at the end of the year. The...

Deduction u/s. 35(1)(ii) - weighted deduction - bogus donation - It is not in dispute that M/s. HHBHRF was enjoying the approval within the meaning of Sec. 35(1)(ii) of...

Deduction u/s 35(2AB) - Weighted deduction - expenditure on R & D facilities - - matter remanded back to the file of the AO to grant weighted deduction u/s 35(2AB). The...

Disallowance u/s 35(1)(ii) - withdrawal of approval by the CBDT as was granted to the said HHBRF was only on 06.09.2016 i.e. much after the donation made by the assessee....

ITAT addressed three key issues in this tax appeal. The tribunal upheld the addition of undisclosed income based on electronic evidence from a seized pen drive, as...

Various issues related to allowability of expenses, deductions, transfer pricing adjustments, and other income tax matters for a pharmaceutical company. Key points are:...

Quick Updates: