https://www.taxtmi.com/caselaws?id=767767 ITAT Chennai-AT allowed assessee's appeal on multiple grounds. Tribunal held that denial of weighted deduction under Section 35(2AB) for R&D expenditure does not preclude normal deduction under Section 35(1)(iv) for capital R&D expenditure, directing AO to allow the same. Regarding Section 80IC deduction for Pantnagar unit, Tribunal found no defects in audited stand-alone accounts and rejected AO's artificial profit allegations, directing allowance of full deduction claimed. Additional depreciation under Section 32(1)(iia) for pollution control and energy saving equipment was upheld as these qualified as plant and machinery. Disallowance under Section 14A while computing book profit under Section 115JB was deleted following Sobha Developers precedent. en-us Fri, 14 Feb 2025 00:00:00 +0530 Fri, 21 Mar 2025 12:46:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767767 ITAT Chennai-AT allowed assessee's appeal on multiple grounds. Tribunal held that denial of weighted deduction under Section 35(2AB) for R&D expenditure does not preclude normal deduction under Section 35(1)(iv) for capital R&D expenditure, directing AO to allow the same. Regarding Section 80IC deduction for Pantnagar unit, Tribunal found no defects in audited stand-alone accounts and rejected AO's artificial profit allegations, directing allowance of full deduction claimed. Additional depreciation under Section 32(1)(iia) for pollution control and energy saving equipment was upheld as these qualified as plant and machinery. Disallowance under Section 14A while computing book profit under Section 115JB was deleted following Sobha Developers precedent. Case-Laws Income Tax Fri, 14 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767767