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Approved in-house R&D facility was entitled to claim sec. 35(2AB) deduction for both capital as well as revenue exp.

October 10, 2019[2019] 109 204 (Kolkata - Trib.)/[2019] 179 ITD 22 (Kolkata - Trib.)

INCOME TAX : Assessee, engaged in business of manufacturing, export and import of silk fabrics, was eligible for weighted deduction under section 35(2AB) in respect of revenue expenditure incurred on in-house research and development facility, which was duly approved by competent authority

INCOME TAX : In course of appellate proceedings, Commissioner (Appeals) can entertain any new claim of assessee, such as claim for deduction under section 35(1)(iv) even when same was not raised in return of income originally filed or by way of filing revised return

INCOME TAX : Where disallowance offered by assessee under section 14A was much more than exempt income in form of dividend earned during year under consideration, any further disallowance made by Assessing Officer under section 14A on basis of Rule 8D was not sustainable

INCOME TAX : Where assessee, on basis of material on record, established, nexus between expenditure incurred by directors of company in club with its business, deduction claimed in respect of said expenses could not be denied on ground that same were personal in nature
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