Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (10) TMI 580 - AT - Income TaxDisallowance of R & D Expenditure - Claim of deduction on the expenditure on Research and Development u/s.35(1) - mandation of necessary approval taken from the prescribed authority - Held that:- As held by Hon'ble Karnataka High Court TEJAS NETWORKS LTD. VERSUS DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE 12 (4), BENGALURU [2015 (4) TMI 1064 - KARNATAKA HIGH COURT] that on a plain reading of section 35(2AB) (1), deduction is allowable u/s. 35(2AB) if it is approved by the prescribed authority. AO has no jurisdiction to examine the correctness of the certificate issued by the prescribed authority. In the present case, a categorical finding is given by AO which remains uncontroverted that the assessee has not produced necessary approval taken from the prescribed authority namely, Secretary, Department of Scientific and Industrial Research, Govt. of India. Since in the present case, no approval of prescribed authority is available, the assessee’s claim for deduction is not allowable - Decided against the assessee.
|