Dismissing the appeal of the revenue the Court held that the in respect of amount paid to research organisation, universities etc deduction cannot be denied on the ground that registration granted was cancelled with retrospective effect terms of Explanation to section 35(1)(iii) of the Act. (AY. 2013-14)
PCIT v. Maco Corpn. (India) (P.) Ltd. (2022) 289 Taxman 564 (Cal.)(HC)
S. 35 : Scientific research expenditure-Donations to research organisations-Deduction cannot be denied on the ground that registration granted was cancelled with retrospective effect. [S. 35(1)(iii)]