Exemption u/s 35(2AB) - there was no approval in form No. 3CM - ...

Income Tax

February 13, 2020

Exemption u/s 35(2AB) - there was no approval in form No. 3CM - what is relevant to decide eligibility for weighted deduction u/s 35(2AB) is existence of R&D facility and recognition of such facility by the competent authority. Once the facility has been approved by the competent authority, then there is no cut off date is prescribed for approval of such facility and the benefit of deduction u/s 35(2AB) of the Act, should be given to the assessee as long as the recognition is in force.

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Exemption u/s 35(2AB) - there was no approval in form No. 3CM - ...

Income Tax

February 13, 2020

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