https://www.taxtmi.com/caselaws?id=10443 The High Court upheld the Tribunal's decision to allow depreciation on capital expenditure for research and development, ruling in favor of the assessee. It held that the respondent's activities, including consultancy services, qualified as part of its business, justifying the deduction under section 35 of the Income-tax Act, 1961. The Court interpreted "business" broadly to include such services, emphasizing the relevance of technological advancements. The judgment affirmed the respondent's entitlement to the claimed deduction, emphasizing the connection between the expenditure and the respondent's business operations. en-us Wed, 02 Feb 2005 00:00:00 +0530 Mon, 09 Oct 2017 11:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10443 The High Court upheld the Tribunal's decision to allow depreciation on capital expenditure for research and development, ruling in favor of the assessee. It held that the respondent's activities, including consultancy services, qualified as part of its business, justifying the deduction under section 35 of the Income-tax Act, 1961. The Court interpreted "business" broadly to include such services, emphasizing the relevance of technological advancements. The judgment affirmed the respondent's entitlement to the claimed deduction, emphasizing the connection between the expenditure and the respondent's business operations. Case-Laws Income Tax Wed, 02 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10443