Ramp;D exp. incurred outside India eligible for deduction u/s 35(1)(iv) and not u/s 35(2AB): ITAT

INCOME TAX : Where assessee-company engaged in manufacturing automobiles accessories had claimed weighted deduction under section 35(2AB) on capital expenditure incurred on international transaction of payment of research and development expenses to its AEs, since Ramp;D facilities for which assessee incurred costs outside India were neither on in-house Ramp;D facility of assessee nor approved by prescribed authority, there could be no question of granting any weighted deduction under section 35(2AB),

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