https://www.taxtmi.com/caselaws?id=412627 The Tribunal allowed the appeal for statistical purposes, remitting both issues back to the Assessing Officer (AO) for re-evaluation. The AO was directed to allow the disputed Research and Development (R&D) expenses under Section 37(1) as general business expenditure, providing the assessee an opportunity to present evidence. The disallowance under Section 14A read with Rule 8D was also remitted for the AO to verify the availability of own funds on investment dates and recalculate administrative expenses. en-us Thu, 09 Sep 2021 00:00:00 +0530 Thu, 28 Oct 2021 15:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412627 The Tribunal allowed the appeal for statistical purposes, remitting both issues back to the Assessing Officer (AO) for re-evaluation. The AO was directed to allow the disputed Research and Development (R&D) expenses under Section 37(1) as general business expenditure, providing the assessee an opportunity to present evidence. The disallowance under Section 14A read with Rule 8D was also remitted for the AO to verify the availability of own funds on investment dates and recalculate administrative expenses. Case-Laws Income Tax Thu, 09 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412627