Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2012 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (10) TMI 388 - AT - Income TaxResearch and Development Expense - Assessee contended that the expenditure incurred by the assessee for purchase of imported products of unique nature was for investigation and research in nature and hence allowable as Revenue expenditure. Held that:- AO disallowed the deduction of the rgound that importing of pumps and motors for research and development are not connected to assessee’s business and are not for any innovative purpose therefore, the assessee is not eligible for deduction u/s 37 of the Act. The assessee has not filed any evidence to substantiate his case neither before the Assessing Officer nor before the ld. Commissioner of Income-tax(Appeals) or even before the Tribunal - Order passed by CIT(A) set aside and matter remanded back to AO for fresh decision.
|