https://www.taxtmi.com/caselaws?id=20848 The High Court of BOMBAY ruled in favor of the assessee, emphasizing that scientific research expenditure, even with deductions under sections 35 and 80J of the Income-tax Act, 1961, should be considered in capital computation. The Court rejected the Department's argument to treat assets with 100% deduction under section 35 as nil for capital computation under rule 19A(2), affirming that such expenditure remains part of capital employed. This decision clarifies the distinct treatment of scientific research expenditure for tax deductions and underscores the importance of considering it in capital computation under rule 19A(2). en-us Thu, 05 Nov 1992 00:00:00 +0530 Tue, 17 Nov 2009 15:41:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20848 The High Court of BOMBAY ruled in favor of the assessee, emphasizing that scientific research expenditure, even with deductions under sections 35 and 80J of the Income-tax Act, 1961, should be considered in capital computation. The Court rejected the Department's argument to treat assets with 100% deduction under section 35 as nil for capital computation under rule 19A(2), affirming that such expenditure remains part of capital employed. This decision clarifies the distinct treatment of scientific research expenditure for tax deductions and underscores the importance of considering it in capital computation under rule 19A(2). Case-Laws Income Tax Thu, 05 Nov 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20848