https://www.taxtmi.com/highlights?id=74933 Weighted deductions claimed u/s 35(2AB) - The petitioner challenged the restriction of the eligibility period for weighted deductions on R&D expenditure, contending it should cover all expenditures since 01 April 2018, not just from 27 February 2019. - The High Court held that the restriction was untenable and against the legislative intent of Section 35(2AB), which aims to encourage R&D by allowing deductions for related expenditures without linking them to the date of DSIR approval. - The Court clarified that the eligibility for deductions under Section 35(2AB) is not limited to expenditures incurred post the DSIR's approval of the R&D facility. en-us Thu, 15 Feb 2024 12:38:51 +0530 Thu, 15 Feb 2024 12:38:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=74933 Weighted deductions claimed u/s 35(2AB) - The petitioner challenged the restriction of the eligibility period for weighted deductions on R&D expenditure, contending it should cover all expenditures since 01 April 2018, not just from 27 February 2019. - The High Court held that the restriction was untenable and against the legislative intent of Section 35(2AB), which aims to encourage R&D by allowing deductions for related expenditures without linking them to the date of DSIR approval. - The Court clarified that the eligibility for deductions under Section 35(2AB) is not limited to expenditures incurred post the DSIR's approval of the R&D facility. Highlights Income Tax Thu, 15 Feb 2024 12:38:51 +0530 https://www.taxtmi.com/highlights?id=74933