Disallowance of weighted deduction u/s. 35(2AB) - research and ...

Income Tax

March 2, 2024

Disallowance of weighted deduction u/s. 35(2AB) - research and development (R&D) expenditure - The Income Tax Appellate Tribunal (ITAT) considered the arguments presented by both parties and examined the relevant documentation, including Form-3CM and Form-3CL, which certified the R&D expenditure incurred by the assessee. - The ITAT allowed the appeals filed by the assessee. It directed the Assessing Officer to allow the actual expenditure incurred for in-house R&D facilities, as certified by the Ministry of Science and Technology, without any weighted deduction.

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Disallowance of weighted deduction u/s. 35(2AB) - research and ...

Income Tax

March 2, 2024

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