https://www.taxtmi.com/caselaws?id=356879 The Tribunal upheld the CIT(A)'s decision that the reopening of assessment under Section 147 was invalid as it was based on a change of opinion without new material evidence. The Tribunal confirmed the assessee's entitlement to a deduction under Section 35(2AB) for scientific research expenditure, emphasizing the necessity of approval from the Department of Scientific and Industrial Research. It clarified that the Eleventh Schedule amendment was not applicable for the relevant years, allowing the deduction for manufactured articles. Additionally, the Tribunal supported the allowance of capital expenditure for research and development, emphasizing the need for proper examination before disallowance. en-us Fri, 09 Mar 2018 00:00:00 +0530 Wed, 14 Mar 2018 06:52:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356879 The Tribunal upheld the CIT(A)'s decision that the reopening of assessment under Section 147 was invalid as it was based on a change of opinion without new material evidence. The Tribunal confirmed the assessee's entitlement to a deduction under Section 35(2AB) for scientific research expenditure, emphasizing the necessity of approval from the Department of Scientific and Industrial Research. It clarified that the Eleventh Schedule amendment was not applicable for the relevant years, allowing the deduction for manufactured articles. Additionally, the Tribunal supported the allowance of capital expenditure for research and development, emphasizing the need for proper examination before disallowance. Case-Laws Income Tax Fri, 09 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356879