https://www.taxtmi.com/caselaws?id=350102 The Tribunal upheld the CIT(A)'s decision to allow the R&D expenditure claimed under Section 35(1) of the Income-tax Act, 1961, stating that no prescribed form is required for such deductions. It also ruled out unexplained expenditure and permitted the classification of certain expenses as deferred revenue expenditure under Section 35(1) instead of Section 35(2AB). The Tribunal dismissed the revenue's appeal, emphasizing the eligibility of current year R&D expenditures for deductions and clarifying the treatment of deferred revenue expenditures. en-us Fri, 27 Oct 2017 00:00:00 +0530 Tue, 31 Oct 2017 14:46:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350102 The Tribunal upheld the CIT(A)'s decision to allow the R&D expenditure claimed under Section 35(1) of the Income-tax Act, 1961, stating that no prescribed form is required for such deductions. It also ruled out unexplained expenditure and permitted the classification of certain expenses as deferred revenue expenditure under Section 35(1) instead of Section 35(2AB). The Tribunal dismissed the revenue's appeal, emphasizing the eligibility of current year R&D expenditures for deductions and clarifying the treatment of deferred revenue expenditures. Case-Laws Income Tax Fri, 27 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350102