https://www.taxtmi.com/caselaws?id=122976 The ITAT allowed the appeal, ruling in favor of the assessee, who was entitled to a 100% deduction under section 35(1)(iv) for expenditure on building, plant, and machinery for Research and Development. The denial of the claim under section 35(2AB) by the Assessing Officer was deemed unjustified as the conditions for the higher deduction rate of 150% did not apply to the assessee's claim, which fell under section 35(1) instead. The ITAT clarified the eligibility criteria for deductions under section 35(1)(iv) and emphasized that disallowing depreciation under section 32 was the only condition applicable. en-us Mon, 07 Feb 2011 00:00:00 +0530 Fri, 24 Aug 2012 10:27:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122976 The ITAT allowed the appeal, ruling in favor of the assessee, who was entitled to a 100% deduction under section 35(1)(iv) for expenditure on building, plant, and machinery for Research and Development. The denial of the claim under section 35(2AB) by the Assessing Officer was deemed unjustified as the conditions for the higher deduction rate of 150% did not apply to the assessee's claim, which fell under section 35(1) instead. The ITAT clarified the eligibility criteria for deductions under section 35(1)(iv) and emphasized that disallowing depreciation under section 32 was the only condition applicable. Case-Laws Income Tax Mon, 07 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122976