https://www.taxtmi.com/caselaws?id=279980 The High Court upheld the ITAT's decision to allow weighted deduction under section 35(2AB) for repairs, municipal taxes, and brokerage expenses related to R&D activities. The Court combined certain issues, finding expenses directly linked to the assessee's R&D activities as allowable. It rejected a claim for deduction under section 10B and deemed foreign exchange fluctuation gain from convertible bonds as non-taxable capital receipts. Overall, the Court provided detailed analysis and reasoning on various income tax appeal issues, largely supporting the ITAT's decisions. en-us Mon, 23 Apr 2018 00:00:00 +0530 Mon, 15 Apr 2019 09:35:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279980 The High Court upheld the ITAT's decision to allow weighted deduction under section 35(2AB) for repairs, municipal taxes, and brokerage expenses related to R&D activities. The Court combined certain issues, finding expenses directly linked to the assessee's R&D activities as allowable. It rejected a claim for deduction under section 10B and deemed foreign exchange fluctuation gain from convertible bonds as non-taxable capital receipts. Overall, the Court provided detailed analysis and reasoning on various income tax appeal issues, largely supporting the ITAT's decisions. Case-Laws Income Tax Mon, 23 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279980