https://www.taxtmi.com/caselaws?id=458725 The ITAT PUNE dismissed the Revenue's appeal on weighted deduction u/s 35(2AB) for in-house R&D facility expenditure, upholding CIT(A)'s deletion of disallowance. The Tribunal confirmed that once DSIR recognizes the facility and executes an agreement, the AO must allow the weighted deduction. On disallowance u/s 14A r.w.r.8D, the matter was remanded to AO for verification of assessee's suo-moto disallowance against AO's 0.50% disallowance. The Tribunal dismissed Revenue's appeal on s.10AA(9) disallowance, finding no specific arrangement proving more than ordinary profits from associated enterprises. Education cess issue was remanded for amount verification. en-us Mon, 21 Jun 2021 00:00:00 +0530 Wed, 13 Nov 2024 21:07:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458725 The ITAT PUNE dismissed the Revenue's appeal on weighted deduction u/s 35(2AB) for in-house R&D facility expenditure, upholding CIT(A)'s deletion of disallowance. The Tribunal confirmed that once DSIR recognizes the facility and executes an agreement, the AO must allow the weighted deduction. On disallowance u/s 14A r.w.r.8D, the matter was remanded to AO for verification of assessee's suo-moto disallowance against AO's 0.50% disallowance. The Tribunal dismissed Revenue's appeal on s.10AA(9) disallowance, finding no specific arrangement proving more than ordinary profits from associated enterprises. Education cess issue was remanded for amount verification. Case-Laws Income Tax Mon, 21 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458725