https://www.taxtmi.com/caselaws?id=259000 The court dismissed the Revenue's appeal against the order passed by the Income Tax Appellate Tribunal for assessment years 2003-04 and 2006-07, as it did not raise substantial questions of law. The judgment clarified the interpretation of section 35 of the Income Tax Act, 1961, emphasizing that research expenses need not be capitalized for the provision to apply. Additionally, the court upheld the Tribunal's decision regarding the inapplicability of section 43B to interest payable on a loan, stating that the interpretation was correct and lacked legal errors. The judgment underscores the importance of understanding and applying tax laws accurately in appeals. en-us Thu, 09 Apr 2015 00:00:00 +0530 Tue, 11 Aug 2015 16:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259000 The court dismissed the Revenue's appeal against the order passed by the Income Tax Appellate Tribunal for assessment years 2003-04 and 2006-07, as it did not raise substantial questions of law. The judgment clarified the interpretation of section 35 of the Income Tax Act, 1961, emphasizing that research expenses need not be capitalized for the provision to apply. Additionally, the court upheld the Tribunal's decision regarding the inapplicability of section 43B to interest payable on a loan, stating that the interpretation was correct and lacked legal errors. The judgment underscores the importance of understanding and applying tax laws accurately in appeals. Case-Laws Income Tax Thu, 09 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259000