https://www.taxtmi.com/caselaws?id=12006 The Tribunal held that the applicant was not eligible for deduction under section 35(1)(iv) of the Income-tax Act, 1961 due to the rejection of the claim under section 35(2B. The Tribunal's decision was upheld, emphasizing that approval under section 35(2B is not required for claiming the allowance under section 35(1)(iv) for capital expenditure on scientific research related to the business. The court ruled in favor of the Revenue, clarifying that special allowance for scientific research should be granted instead of routine depreciation to avoid double deductions, aligning with legislative intent on tax deductions. en-us Thu, 05 Sep 2002 00:00:00 +0530 Thu, 13 Aug 2015 11:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12006 The Tribunal held that the applicant was not eligible for deduction under section 35(1)(iv) of the Income-tax Act, 1961 due to the rejection of the claim under section 35(2B. The Tribunal's decision was upheld, emphasizing that approval under section 35(2B is not required for claiming the allowance under section 35(1)(iv) for capital expenditure on scientific research related to the business. The court ruled in favor of the Revenue, clarifying that special allowance for scientific research should be granted instead of routine depreciation to avoid double deductions, aligning with legislative intent on tax deductions. Case-Laws Income Tax Thu, 05 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12006