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The ITAT upheld the AO and CIT(A)'s determination that the professional fees paid for setting up the R&D unit were capital in nature and not eligible for weighted deduction under section 35(2AB) or deduction under section 37(1). However, the Tribunal directed the AO to treat the INR 14,00,000 expenditure as part of the building's cost and allow depreciation accordingly. Regarding the weighted deduction claim under section 35(2AB) for travel expenses related to a visit to Italy, the Tribunal found no supporting evidence beyond expense details and upheld the disallowance confirmed by the CIT(A). Consequently, the appeal was partly allowed, permitting depreciation on the capitalized amount but rejecting the weighted deduction claims for travel expenses.
The ITAT upheld the AO and CIT(A)'s determination that the professional fees paid for setting up the R&D unit were capital in nature and not eligible for weighted deduction under section 35(2AB) or deduction under section 37(1). However, the Tribunal directed the AO to treat the INR 14,00,000 expenditure as part of the building's cost and allow depreciation accordingly. Regarding the weighted deduction claim under section 35(2AB) for travel expenses related to a visit to Italy, the Tribunal found no supporting evidence beyond expense details and upheld the disallowance confirmed by the CIT(A). Consequently, the appeal was partly allowed, permitting depreciation on the capitalized amount but rejecting the weighted deduction claims for travel expenses.
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