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2019 (7) TMI 750 - HC - Income TaxAllowability of advance given for R&D equipment u/s 35(1)(iv) - Allowability of replacement of dies and moulds as current repairs - entitled to deduction of entry tax paid u/s 43B which was set off against sales tax paid - HELD THAT:- The assessee's own case for the assessment year 2003-04 [2014 (2) TMI 522 - MADRAS HIGH COURT] , three substantial questions of law raised in this appeal were considered and they were decided against the revenue and in favour of the assessee It was held that Tribunal was rightly applied the decision reported in CIT Vs. Rane Brake Linings Ltd. [2001 (12) TMI 44 - MADRAS HIGH COURT] while allowing the expenditure on Research & Development, after analysing the facts of assessee. Further, when the dies and moulds were attached to the machine to manufacture the designed product, the claim would fall for consideration only u/s 31 as revenue expenses. It also held that payment of entry tax has been made by the assesssee; the entry tax paid would get the adjustment as against the Sales Tax liability, consequently, any deduction would amount to total deduction. - the appeal filed by the revenue is dismissed
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