Expenses incurred on Ramp;D to manufacturing allowable as deduction u/s 37

INCOME TAX : Where assessee, engaged in business of design, development, manufacture and maintenance of aircrafts and avionics systems, incurred expenditure towards research and development for manufacture of aircrafts which were to be sold, since expenditure was incurred for purpose of business of assessee, same was to be allowed as deduction under section 37(1)

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