TMI Blog2002 (9) TMI 45X X X X Extracts X X X X X X X X Extracts X X X X ..... he two sums of ₹ 5,87,044 and ₹ 5,16,853 in view of the same having been claimed under section 35(2B) and in spite of the same having been disallowed under the said section. We, answer the question referred to us in favour of the Revenue and against the assessee. - T. C. Nos 477, 478 and 479 of 1994. - - - Dated:- 5-9-2002 - Judge(s) : R. JAYASIMHA BABU., K. RAVIRAJA PANDIAN. JU ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me approved by the authority prescribed under section 35(2B) of the Act. The assessee's claim for deduction in respect of the value of that machine under section 35(2B) was rejected by the Assessing Officer. The assessee's claim that that expenditure be considered under section 35(1)(iv) as expenditure incur red on a capital asset used for scientific research was negatived by the appellate authori ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the acquisition of any land or building or construction of any building, on scientific research undertaken under a programme approved in that behalf by the prescribed authority, having regard to the social, economic and industrial need of India. It is only such expenditure as is incurred on a programme which has been approved by the authority prescribed under section 35(2B), which can be claimed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nditure and falls squarely within the ambit of section 35(1)(iv). Capital expenditure incurred on the acquisition of land or construction of building which is excluded by the very terms of section 35(2B) can be claimed under section 35(1)(iv). So far as the other sum of Rs. 5,87,044 is concerned, it has been found by the Tribunal that the assessee had treated the assets of that value in its prof ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l be clearly expressed. In other words, in the absence of clear statutory indication to the contrary the statute should not be read so as to permit an assessee two deductions-both under section 10(2)(vi) and section 10(2)(xiv) of the 1922 Act or both under section 32(1)(ii) and section 35(1)(iv) of the 1961 Act." The court went on to hold that section 35(2)(iv) mandates that the assessee should be ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
