https://www.taxtmi.com/highlights?id=72616 Research and Development expenses (R&D Expenses) - Allowability of expenses u/s 35(2) - The expenses are not covered u/s 35(2) - The assessee has not claimed the same u/s 35(2) but the expenses are allowable u/s 35(1) @ 100%. Since, the ratio of incurring of expenses per se is not in dispute, we hold that the assessee is eligible to claim expenses u/s 35(1). The approval of the DSIR is not required for claim u/s 35(1)(i). - AT en-us Wed, 18 Oct 2023 07:42:44 +0530 Wed, 18 Oct 2023 07:42:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=72616 Research and Development expenses (R&D Expenses) - Allowability of expenses u/s 35(2) - The expenses are not covered u/s 35(2) - The assessee has not claimed the same u/s 35(2) but the expenses are allowable u/s 35(1) @ 100%. Since, the ratio of incurring of expenses per se is not in dispute, we hold that the assessee is eligible to claim expenses u/s 35(1). The approval of the DSIR is not required for claim u/s 35(1)(i). - AT Highlights Income Tax Wed, 18 Oct 2023 07:42:44 +0530 https://www.taxtmi.com/highlights?id=72616