Hindustan Aeronautics Ltd. v. ACIT (2021) 190 ITD 721 (Bang.)(Trib.)

S. 35 : Scientific research expenditure-Research and development in defence aviation system-Allowable deduction u/s. 35(1)(iv) of the Act. [S. 35(1)(iv), 37(1)]

Held that the grants were given to enable assessee to conduct research and development in defence aviation system so that necessary technical know-how could be acquired for subsequent manufacture of defence equipments. Research was related to business of assessee, expenditure incurred towards research and development activities would be allowed under section 35(1)(iv) of the Act.  (AY.  2007-08 & 2011-12 to 2015-16)