https://www.taxtmi.com/caselaws?id=411673 The Tribunal directed the Assessing Officer to re-examine the nature of R&D expenditures and allow appropriate deductions under sections 37 and 35(1)(iv) for a Public Sector Undertaking engaged in defense aviation technology. It also ensured correct application of MAT and TDS credits, adjusted disallowance under section 14A, and allowed set-off of brought forward losses. The appeals were partly allowed for statistical purposes, and Revenue's cross-objections were dismissed. en-us Tue, 24 Aug 2021 00:00:00 +0530 Wed, 01 Sep 2021 08:57:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411673 The Tribunal directed the Assessing Officer to re-examine the nature of R&D expenditures and allow appropriate deductions under sections 37 and 35(1)(iv) for a Public Sector Undertaking engaged in defense aviation technology. It also ensured correct application of MAT and TDS credits, adjusted disallowance under section 14A, and allowed set-off of brought forward losses. The appeals were partly allowed for statistical purposes, and Revenue's cross-objections were dismissed. Case-Laws Income Tax Tue, 24 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411673