https://www.taxtmi.com/caselaws?id=243091 The Tribunal allowed the appeals for AYs 2007-08 and 2008-09, directing the AO to permit the assessee's claim for scientific expenditure under section 35(1)(iv) for the relevant assessment years. The Tribunal found the expenditure to be capital in nature and fulfilled the conditions for deduction under the said section, rejecting the Revenue's argument that it created an intangible asset. The full deduction was granted without any carryover amount, based on the material on record and presented arguments, with the order pronounced on July 31, 2013. en-us Wed, 31 Jul 2013 00:00:00 +0530 Sat, 25 Jan 2014 18:18:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243091 The Tribunal allowed the appeals for AYs 2007-08 and 2008-09, directing the AO to permit the assessee's claim for scientific expenditure under section 35(1)(iv) for the relevant assessment years. The Tribunal found the expenditure to be capital in nature and fulfilled the conditions for deduction under the said section, rejecting the Revenue's argument that it created an intangible asset. The full deduction was granted without any carryover amount, based on the material on record and presented arguments, with the order pronounced on July 31, 2013. Case-Laws Income Tax Wed, 31 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243091