Monday, May 13, 2019

Claim of weighted deduction u/s 35(2AB) allowable, though Govt. approval for R&D facility was awaited

IT: Assessee's claim of weighted deduction under section 35(2AB) for expenditure on development of "Research and Development' facility was allowable even though approval of concerned Ministry of Central Government was under consideration or awaited

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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