https://www.taxtmi.com/caselaws?id=18118 The High Court held that the assessee was entitled to a deduction under section 35(1)(iv) on the written down value of assets transferred to the research and development section. The Court emphasized that the transfer of machinery for scientific research and development constituted capital expenditure in the assessment year under consideration. The Court distinguished previous Supreme Court decisions on revenue expenditure and ruled in favor of the assessee, stating that there was no prohibition against transferring assets for scientific research and development. The Department's appeal was dismissed, and no costs were awarded. en-us Mon, 19 Feb 1996 00:00:00 +0530 Sat, 26 Sep 2009 18:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18118 The High Court held that the assessee was entitled to a deduction under section 35(1)(iv) on the written down value of assets transferred to the research and development section. The Court emphasized that the transfer of machinery for scientific research and development constituted capital expenditure in the assessment year under consideration. The Court distinguished previous Supreme Court decisions on revenue expenditure and ruled in favor of the assessee, stating that there was no prohibition against transferring assets for scientific research and development. The Department's appeal was dismissed, and no costs were awarded. Case-Laws Income Tax Mon, 19 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18118