https://www.taxtmi.com/caselaws?id=253917 The High Court upheld the Income-tax Appellate Tribunal's decision for the assessment year 1995-96, allowing the respondent's appeal on research activities and expenditure deductions under sections 35(1) and 43(4) of the Act. The Court emphasized the necessity of seeking the Central Board of Direct Taxes' opinion under section 35(3) before disallowing scientific research expenses. It concluded that the Tribunal rightly reversed the revenue authorities' decisions, dismissing the Tax Appeals and affirming the deduction for scientific research expenditure claimed by the assessee. en-us Thu, 20 Nov 2014 00:00:00 +0530 Mon, 08 Dec 2014 06:31:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253917 The High Court upheld the Income-tax Appellate Tribunal's decision for the assessment year 1995-96, allowing the respondent's appeal on research activities and expenditure deductions under sections 35(1) and 43(4) of the Act. The Court emphasized the necessity of seeking the Central Board of Direct Taxes' opinion under section 35(3) before disallowing scientific research expenses. It concluded that the Tribunal rightly reversed the revenue authorities' decisions, dismissing the Tax Appeals and affirming the deduction for scientific research expenditure claimed by the assessee. Case-Laws Income Tax Thu, 20 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253917