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2010 (4) TMI 287 - HC - Income TaxR&D expenditure – allowance u/s 35(1) – approval from Ministry of Science and Technology, Government of India – revenue expenditure - During the scrutiny proceedings, the Assessing Officer noticed that the expenditure amounting to Rs. 1,60,21,364/- from Chandigarh Unit and Rs. 83,99,177/- from Baddi Unit, had been deferred as R&D expenditure in the computation chart. – ITAT allowed the expenditure – Held that: - apart from the findings of fact recorded by the CIT(A) and the Tribunal, the genuineness of the expenditure has not been doubted. It has also been found that the assessee respondent has been following mercantile system of accounting and the registration certificate from the Ministry of Science and Technology further authenticate their expenditure. – revenue appeal dismissed
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