https://www.taxtmi.com/caselaws?id=69226 The Tribunal held that depreciation on assets used for scientific research is only admissible after they cease to be used for research and are utilized in the business. The legislative intent behind Section 35 of the Income Tax Act was to incentivize capital expenditure on research by allowing full deduction in the first year. Therefore, no depreciation should be granted before assets transition from research to business use. The Tribunal reversed the lower decision, ruling that no depreciation is allowable for assets used in scientific research post-March 31, 1967, where only a deduction under Section 35(2)(1-A) is permissible. en-us Mon, 24 Apr 1978 00:00:00 +0530 Tue, 05 Apr 2011 18:28:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69226 The Tribunal held that depreciation on assets used for scientific research is only admissible after they cease to be used for research and are utilized in the business. The legislative intent behind Section 35 of the Income Tax Act was to incentivize capital expenditure on research by allowing full deduction in the first year. Therefore, no depreciation should be granted before assets transition from research to business use. The Tribunal reversed the lower decision, ruling that no depreciation is allowable for assets used in scientific research post-March 31, 1967, where only a deduction under Section 35(2)(1-A) is permissible. Case-Laws Income Tax Mon, 24 Apr 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69226