https://www.taxtmi.com/highlights?id=62205 Deduction u/s 35(2AB) - research and development expenses - The position is clear that prior to amendment introduced w.e.f. 01/07/2016, the deduction u/s 35(2AB) of the Act would be available to an assessee having an approved in-house R&D facility by the prescribed Authority Act and there is no mention of approval of the ‘quantum’ of expenditure in the law as it stood prior to that date. The mandate of quantification of expenditure has been put in place only w.e.f. 01.07.2016. - Claim allowed - AT en-us Tue, 01 Mar 2022 10:46:30 +0530 Tue, 01 Mar 2022 10:46:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=62205 Deduction u/s 35(2AB) - research and development expenses - The position is clear that prior to amendment introduced w.e.f. 01/07/2016, the deduction u/s 35(2AB) of the Act would be available to an assessee having an approved in-house R&D facility by the prescribed Authority Act and there is no mention of approval of the ‘quantum’ of expenditure in the law as it stood prior to that date. The mandate of quantification of expenditure has been put in place only w.e.f. 01.07.2016. - Claim allowed - AT Highlights Income Tax Tue, 01 Mar 2022 10:46:30 +0530 https://www.taxtmi.com/highlights?id=62205