The assessee company availed of Monsanto technology from another company MMB by making\u00a0 payment of trait value to develop hybrid cotton seeds. The Tribunal held that the role of the assessee for carrying out independent scientific research and development is not clearly established as required under section 80IB(8A) of the Act\u00a0 the matter is remanded back to the Assessing Officer to examine a fresh as to whether the assessee has carried out any scientific research and development activities during\u00a0 the year independent of the technology purchased from MMB. (AY. 2010-11)\u00a0\u00a0\u00a0 \u00a0\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 80IB : Industrial undertakings-Research and development-Technology purchased from another company-Matter remanded back to Assessing Officer to examine afresh as to whether the asseseee has carried out any scientific research and development activities independent of the technology purchased from MMB. [S. 80B(8A)] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-27648","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-7bW","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/27648","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=27648"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/27648\/revisions"}],"predecessor-version":[{"id":27649,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/27648\/revisions\/27649"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=27648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=27648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=27648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}