Pr. CIT's Section 263 revision on R&D expenses and royalty income deemed unsustainable; Tribunal favors taxpayer.

Pr. CIT's Section 263 revision on R&D expenses and royalty income deemed unsustainable; Tribunal favors taxpayer. https://www.taxtmi.com/highlights?id=47488 Revision u/s 263 - Pr. CIT directed to make addition/disallowance in respect of expenditure incurred towards R&D u/s 35(2AB); Capital R&D expense allocated to Sun Pharmaceuticals Industries and re-characterization of remuneration earned from partnership firm (SPI) as royalty income - similar disallowances were already subject matter of appeals before Tribunal in earlier years in favour of assessee - revision order is not sustainable en-us Thu, 27 Jun 2019 07:39:08 +0530 Thu, 27 Jun 2019 07:39:08 +0530 TaxTMI RSS Generator Pr. CIT's Section 263 revision on R&D expenses and royalty income deemed unsustainable; Tribunal favors taxpayer. https://www.taxtmi.com/highlights?id=47488 Revision u/s 263 - Pr. CIT directed to make addition/disallowance in respect of expenditure incurred towards R&D u/s 35(2AB); Capital R&D expense allocated to Sun Pharmaceuticals Industries and re-characterization of remuneration earned from partnership firm (SPI) as royalty income - similar disallowances were already subject matter of appeals before Tribunal in earlier years in favour of assessee - revision order is not sustainable Highlights Income Tax Thu, 27 Jun 2019 07:39:08 +0530 https://www.taxtmi.com/highlights?id=47488