https://www.taxtmi.com/caselaws?id=385616 The Tribunal ruled in favor of the pharmaceutical company, holding that the R&D expenses allocated to the partnership firm were allowable deductions. The Tribunal found that the Assessing Officer and CIT(A) erred in disallowing the expenses, emphasizing the need to adhere to judicial discipline and previous decisions. Additionally, the Tribunal set aside the assessment order under section 263 of the Income Tax Act, 1961, as the issue had already been settled in favor of the assessee in a previous case with no change in circumstances. en-us Fri, 06 Sep 2019 00:00:00 +0530 Mon, 09 Sep 2019 13:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385616 The Tribunal ruled in favor of the pharmaceutical company, holding that the R&D expenses allocated to the partnership firm were allowable deductions. The Tribunal found that the Assessing Officer and CIT(A) erred in disallowing the expenses, emphasizing the need to adhere to judicial discipline and previous decisions. Additionally, the Tribunal set aside the assessment order under section 263 of the Income Tax Act, 1961, as the issue had already been settled in favor of the assessee in a previous case with no change in circumstances. Case-Laws Income Tax Fri, 06 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385616