https://www.taxtmi.com/caselaws?id=326105 The HC upheld the assessing authority's method of computing weighted deduction under Section 35(2AB) based on DSIR guidelines, rejecting the Tribunal's view that R&D-related sales constitute business income. The court found the Tribunal's approach appropriate and held no substantial question of law arose. Regarding disallowance under Section 14A read with Rule 8D, the HC deleted the addition of interest expenses, relying on precedents that where interest-free funds exceed investments, no disallowance under Section 14A is warranted. The court affirmed that investments made from a common pool with sufficient non-interest-bearing funds do not attract disallowance of interest expenditure. en-us Fri, 11 Mar 2016 00:00:00 +0530 Thu, 24 Jul 2025 14:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326105 The HC upheld the assessing authority's method of computing weighted deduction under Section 35(2AB) based on DSIR guidelines, rejecting the Tribunal's view that R&D-related sales constitute business income. The court found the Tribunal's approach appropriate and held no substantial question of law arose. Regarding disallowance under Section 14A read with Rule 8D, the HC deleted the addition of interest expenses, relying on precedents that where interest-free funds exceed investments, no disallowance under Section 14A is warranted. The court affirmed that investments made from a common pool with sufficient non-interest-bearing funds do not attract disallowance of interest expenditure. Case-Laws Income Tax Fri, 11 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326105