Tribunal held that the assessee is not eligible to claim short-term capital loss and long-term capital loss on sale of assets used for research and development activities for which deduction under S. 35 had already been allowed. (AY. 2004-05)
Mahindra & Mahindra Ltd. v. DCIT (2020) 180 ITD 776 (Mum.) (Trib.)
S. 45 : Capital gains-Sale of assets used for research and development-Not eligible to claim short-term capital loss or long-term capital loss on sale of assets used for research and development activities for which deduction under S. 35 had already been allowed.[S.2(29A), 2(29B), 2(42B), 35]