Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2010 (11) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2010 (11) TMI 42 - HC - Income TaxWeighted Deduction u/s 35B - research and development expenditure - whether the benefit of exemption is available from the date of notification or for the whole assessment year - Held that: - once the CBDT issued a Notification dated 21.9.2004 notifying automobiles including automobile components, as article or thing for the purpose of Clause (1) of Sub Clause (2AB) of Section 35 of the Income Tax Act, 1961, such benefit provided under the said Section should enure to assessee for the whole of the assessment year and cannot be restricted from the date of Notification -regarding R & D expenditure - once the prescribed authority approved the existence of research and development facility and the expenditure incurred on such scientific research, the assessee would be entitled for the expenditure incurred for the whole of the assessment year and cannot be granted in a truncated manner.
|