AMI Life Sciences P. Ltd. v. ACIT (2024)114 ITR 7 (SN)(Ahd)(Trib)

S. 35 : Expenditure on scientific research-Weighted deduction-Allowable as deduction. [S.35(2AB]

Held  that the assessee had undertaken the research work and had spent certain amount during the relevant assessment years on scientific research, not being the capital expenditure in the nature of land and building. The Assessing Officer’s reliance solely on the Department of Scientific and Industrial Research report, without considering the detailed books of account and certification by a chartered accountant, is  not justified. Deduction is allowed. (AY.2016-17)

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