Government of India. (1B) For the purposes of sub-section (2AB) of section 35, the prescribed authority shall be the Secretary, Department of Scientific ... required to be furnished by a company under sub-section (2AB) of section 35 shall be in Form No. 3CK. (5) The head
claimed by the appellant under section 35(2AB) of the Act in
respect of expenditure of Rs. 1.89 crores incurred by the company ... view that the expenditure can only be allowed under section
35(2AB) if it is incurred on in-house research and development facility and
since
related expenses outside India as eligible for
weighted tax u/s.35 (2AB) of the I.T. Act, The explanation inserted
under clause ... 35(2AB) stated that;
Explanation - for the purposed of this clause, "Expenditure on
scientific research", in relation to drugs and pharmaceuticals, shall
include
claim u/s. 35(1) of the Act in respect of the expenditure claimed u/s.
35(2AB) , to the extent disallowed there-under ... 35(2AB) and u/s. 35(1) ,
which need to be examined in the matter. We include s. 35(2AB) as well, as,
without doubt
lacs claimed by the assessee
u/s.35(2AB) of the IT. Act @ 150% in respect of expenditure of Rs.6.68 lacs
incurred ... erred in
confirming the disallowance of deduction under section 35 (2AB) of the Act for
Rs. 6.68 lakhs made by the AO.
9. Assessee
weighted deduction of Rs. 10,09,63,660/- u/s 35(2AB) of the Act.
14 Ld AR submitted that the assessee had claimed ... 35/Coch/2017
as revenue by the assessing officer himself. These items clearly are within the purview
of allowable u/s 35(2AB
computing income from business, the assessee
had claimed deduction u/s 35(2AB ... scientific research and in house research and development facility.
Sec.35(2AB) of the Act, in so far as it is relevant to the present
case, the Tribunal was right in granting relief under
Section 35 (2AB) of the Income Tax Act when the Assessee
has not produced the relevant ... prescribed authorities for the claim for weighted
deduction under Section 35 (2AB) of the Act ?
(2) Whether on the facts and in the circumstances
unit are eligible for weighted
deduction u/s 35(2AB) .
(ii) The learned AO/DRP erred in stating that
Perlecan has not obtained ... hence not eligible for weighted deduction u/s
35(2AB) .
9. The learned AO/DRP erred in not allowing the
following expenditure
section
35. Now, whereas in some cases, like those coming under the provisions of sections
35(1)(i) and 35(2AB) , a specific approval ... expenditure. For ready reference,
section 35(2)(AB) reads as under:
Expenditure on scientific research.
35. (2AB)(1) Where a company engaged in the business
