https://www.taxtmi.com/caselaws?id=59382 The Tribunal upheld the denial of exemption under section 10B, agreeing with the CIT(A) that the assessee's activities did not qualify for the claimed exemption. It also upheld the denial of deduction under section 35(1)(iv), concluding that the assessee's research activities did not extend its own business but supported its parent company. However, the Tribunal reversed the denial of deduction under section 80-IB(8A) for the assessment year 2004-05, directing the AO to allow the deduction, as the conditions of sub-section (2) did not apply to the assessee's approved activities. en-us Thu, 28 Aug 2008 00:00:00 +0530 Sun, 10 Dec 2023 14:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59382 The Tribunal upheld the denial of exemption under section 10B, agreeing with the CIT(A) that the assessee's activities did not qualify for the claimed exemption. It also upheld the denial of deduction under section 35(1)(iv), concluding that the assessee's research activities did not extend its own business but supported its parent company. However, the Tribunal reversed the denial of deduction under section 80-IB(8A) for the assessment year 2004-05, directing the AO to allow the deduction, as the conditions of sub-section (2) did not apply to the assessee's approved activities. Case-Laws Income Tax Thu, 28 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59382