https://www.taxtmi.com/caselaws?id=446812 The ITAT Delhi held that an assessee is entitled to weighted deduction under Section 35(2AB) for the entire financial year once the R&D facility receives DSIR approval, regardless of the specific approval date within that year. The AO had partially disallowed the deduction for the period from 1.4.2012 to 19.11.2012, as DSIR approval was granted from 20.11.2012 onwards. Following the precedent in Sandan Vikas (India) Ltd., the Tribunal ruled that the provisions do not suggest approval date as a cut-off for eligibility. The assessee's appeal was allowed, granting full deduction for expenditure incurred from 1.4.2012 to 31.3.2013. en-us Mon, 23 Oct 2023 00:00:00 +0530 Tue, 12 Dec 2023 19:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446812 The ITAT Delhi held that an assessee is entitled to weighted deduction under Section 35(2AB) for the entire financial year once the R&D facility receives DSIR approval, regardless of the specific approval date within that year. The AO had partially disallowed the deduction for the period from 1.4.2012 to 19.11.2012, as DSIR approval was granted from 20.11.2012 onwards. Following the precedent in Sandan Vikas (India) Ltd., the Tribunal ruled that the provisions do not suggest approval date as a cut-off for eligibility. The assessee's appeal was allowed, granting full deduction for expenditure incurred from 1.4.2012 to 31.3.2013. Case-Laws Income Tax Mon, 23 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446812