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TMI Blog2002 (9) TMI 45X X X X Extracts X X X X X X X X Extracts X X X X ..... SIMHA BABU J. -The question referred to us for our consideration is, "whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is right in holding that the applicant would not be eligible for deduction under section 35(1)(iv) of the Income-tax Act, 1961, in relation to the two sums of Rs. 5,87,044 and Rs. 5,16,853 in view of the same having been claimed under s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s not purchased in the previous year relevant to the accounting year. Though the Tribunal was in error in proceeding further to reject the claim also on the ground that when a claim is made under section 35(2B), such a claim cannot at all be considered even if a portion of it falls squarely under section 35(1)(iv), the ultimate decision of the Tribunal that this sum cannot be allowed for this asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he acquisition of land or building whether acquired or constructed cannot be claimed under section 35(2B). The benefit of section 35(1)(iv) can be availed of by the assessee in respect of expenditure of a capital nature on scientific research if that research is related to the business carried on by the assessee. The approval of the authority prescribed under section 35(2B) is not an essential pre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... imed depreciation on those assets in the relevant year. The Tribunal, while upholding the disallowance of that sum under section 35(2B), has held that the assessee cannot claim the benefit of section 35(2B) after the assets had been fully depreciated under section 32. The assessee having enjoyed hundred per cent. depreciation cannot claim double deduction, allowable depreciation under section 35(1 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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