https://www.taxtmi.com/caselaws?id=765115 ITAT Pune allowed the assessee's appeal regarding weighted deduction under Section 35(2AB) for scientific research expenses. The tribunal held that R&D expenditure incurred in India is eligible for weighted deduction under Section 35(2AB), while revenue R&D expenditure incurred outside India was already allowed in assessment. Capital R&D expenditure incurred outside India was held eligible for deduction under Section 35(1)(iv). Product development expenses were allowed as revenue expenses, following the tribunal's own precedent from the assessee's case for assessment year 2011-12. en-us Wed, 22 Jan 2025 00:00:00 +0530 Sat, 25 Jan 2025 08:26:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765115 ITAT Pune allowed the assessee's appeal regarding weighted deduction under Section 35(2AB) for scientific research expenses. The tribunal held that R&D expenditure incurred in India is eligible for weighted deduction under Section 35(2AB), while revenue R&D expenditure incurred outside India was already allowed in assessment. Capital R&D expenditure incurred outside India was held eligible for deduction under Section 35(1)(iv). Product development expenses were allowed as revenue expenses, following the tribunal's own precedent from the assessee's case for assessment year 2011-12. Case-Laws Income Tax Wed, 22 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765115