https://www.taxtmi.com/caselaws?id=177024 The Tribunal directed the Assessing Officer to allow the deduction under Section 80IB to the pharmaceutical and healthcare products company engaged in advisory/service activities, as the prescribed authority had certified it as a scientific research and development company. The Tribunal emphasized that the AO cannot challenge the prescribed authority's approval without valid reasons, highlighting the significance of such certification for claiming deductions under Section 80IB. Additionally, the Tribunal clarified that the development of drug formulation, even under a contract, qualifies as research, distinguishing it from advisory services. en-us Wed, 24 Feb 2010 00:00:00 +0530 Fri, 01 Jan 2016 17:06:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177024 The Tribunal directed the Assessing Officer to allow the deduction under Section 80IB to the pharmaceutical and healthcare products company engaged in advisory/service activities, as the prescribed authority had certified it as a scientific research and development company. The Tribunal emphasized that the AO cannot challenge the prescribed authority's approval without valid reasons, highlighting the significance of such certification for claiming deductions under Section 80IB. Additionally, the Tribunal clarified that the development of drug formulation, even under a contract, qualifies as research, distinguishing it from advisory services. Case-Laws Income Tax Wed, 24 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177024