https://www.taxtmi.com/caselaws?id=293954 The Tribunal disallowed the weighted deduction under section 35(2AB) for Assessment Year (AY) 2010-11 as the approval was obtained after the relevant previous year. However, for AY 2011-12, the deduction was allowed as the application for approval was made during the relevant year. The Tribunal ordered a re-evaluation for AY 2011-12 due to an error in recording the approval date, emphasizing the significance of the approval date for eligibility. The decisions were based on distinguishing approval dates and application dates, ensuring a comprehensive assessment of the weighted deduction's allowability under the Income Tax Act for the respective years. en-us Thu, 05 Nov 2020 00:00:00 +0530 Thu, 11 Mar 2021 09:13:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293954 The Tribunal disallowed the weighted deduction under section 35(2AB) for Assessment Year (AY) 2010-11 as the approval was obtained after the relevant previous year. However, for AY 2011-12, the deduction was allowed as the application for approval was made during the relevant year. The Tribunal ordered a re-evaluation for AY 2011-12 due to an error in recording the approval date, emphasizing the significance of the approval date for eligibility. The decisions were based on distinguishing approval dates and application dates, ensuring a comprehensive assessment of the weighted deduction's allowability under the Income Tax Act for the respective years. Case-Laws Income Tax Thu, 05 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293954