2015 (8) TMI 422

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..... thority, who after following the proper procedure, will allow the application or otherwise and the assessee would be entitled for weighted deduction in respect of all expenditure so incurred. The provision nowhere suggests or implies that machinery is required to be installed and commissioned before the expiry of the relevant previous year. The provision postulates approval of research and develop .....

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..... installation certificate had been issued on March 31, 2004, by one Mr. Virupaksha (concerned officer) evidencing that three scientific machines were installed. Hence, we do not find any ground to interfere with the orders passed by the Income-tax Appellate Tribunal to held that the Assessing Officer is not justified in not allowing the weighted deduction under section 35(2AB) of the Act - Decided .....

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..... and commissioned and, therefore, the assessee is not entitled for weighted deduction under section 35(2AB) of the Income-tax Act, 1961 ( the Act for short) and, hence, held that such expenditure does not amount to expenditure incurred during that period. The Commissioner of Income-tax (Appeals), Bangalore, as well as the Income-tax Appellate Tribunal disagreed with the said conclusion reached by .....

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..... the assessee has to develop facility by incurring expenditure for scientific research and he will have to file application before the prescribed authority, who after following the proper procedure, will allow the application or otherwise and the assessee would be entitled for weighted deduction in respect of all expenditure so incurred. The provision nowhere suggests or implies that machinery is .....

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..... ent has to be allowed for weighted deduction under section 35(2AB) of the Act. 4. Even on facts, it has been found by the Assessing Officer that an installation certificate had been issued on March 31, 2004, by one Mr. Virupaksha (concerned officer) evidencing that three scientific machines were installed. Hence, we do not find any ground to interfere with the orders passed by the Income-tax Ap .....

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