https://www.taxtmi.com/caselaws?id=410653 The ITAT dismissed both appeals filed by the assessee against the disallowance of research and development expenses under section 37(1) for AY 2005-06. The CIT (A)'s decision to restrict the deduction to 50% was upheld due to the shared utilization of research outcomes by group companies, as the expenses did not exclusively benefit the assessee's business. en-us Mon, 28 Jun 2021 00:00:00 +0530 Fri, 06 Aug 2021 09:14:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410653 The ITAT dismissed both appeals filed by the assessee against the disallowance of research and development expenses under section 37(1) for AY 2005-06. The CIT (A)'s decision to restrict the deduction to 50% was upheld due to the shared utilization of research outcomes by group companies, as the expenses did not exclusively benefit the assessee's business. Case-Laws Income Tax Mon, 28 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410653