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COMMISSIONER OF INCOME-TAX (LTU) AND ANOTHER Versus BIOCON LTD.

Weighted deduction under section 35(2AB) - expenditure incurred in respect of research and development - Held that:- 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 th .....

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as the words which are not provided in the statute are to be read into, which is against the settled proposition of law with regard to plain and simple meaning of the provision. The plain and homogenous reading of the provisions would suggest that the entire expenditure incurred in respect of research and development has to be allowed for weighted deduction under section 35(2AB) of the Act.

Even on facts, it has been found by the Assessing Officer that an installation certificate had .....

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Advocate for the appellant JUDGMENT Mohan M. Shantanagoudar J.- The assessee is engaged in the business of manufacture of enzymes and pharmaceutical ingredients. The matter pertains to the return of income for the assessment year 2003-04. The records reveal that during the relevant assessment year, the assessee has incurred certain expenditure on capital towards cost of machinery for a sum of ₹ 7,82,25,431. The Assessing Officer noticed that the said amount included a sum of ₹ 2,72,5 .....

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e Tribunal disagreed with the said conclusion reached by the Assessing Officer and have held that the Assessing Officer is not justified in not allowing the weighted deduction under section 35(2AB) of the Act inasmuch as the words which are not provided in the statute are sought to be read into, by the Assessing Officer. 2. We do not find any ground to disagree with the conclusion reached by the Commissioner of Income-tax (Appeals) and the Appellate Tribunal. What section 35(2AB) of the Act spea .....

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