2023 (3) TMI 392

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....IT(A)") for the assessment year 2017-18, whereby the learned Commissioner of Income-tax (Appeals) had dismissed the appeal filed by the appellant against the assessment order, dated December 16, 2019 passed under section 143(3) of the Income-tax Act, 1961 (hereinafter referred to as "the Act"). 2. The appellant has raised 5 grounds of appeal all directed against the rejection of claim of weighted deduction under section 35(2AB) of the Act in respect of capital expenditure of INR 14,33,134. 3. The relevant facts, in brief, are that the appellant filed return of income for the assessment year 2017-18 on October 31, 2017 declaring the total income at INR 67,66,80,210 which was revised return on September 3, 2019 and the total income of I....

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.... (DSIR), New Delhi, vide Part B of Form No. 3CL, dated July 10, 2018, has given approval for following expenses :   A.Y. 2017-18 Capital expenditure (other than land and building) 14.33 Recurring expenditure 386.9 Total R & D expenditure 401.29 The appellant has claimed deduction of Rs. 4,15,62,134 by claiming 200 per cent. of the capital expenditure, i. e., Rs. 28,66,268. As provisions of section 35(2AB) and decision of the hon'ble Karnataka High Court in the case of Tejas Network Ltd. (supra), specifically held that the deduction under section 35(2AB) may be allowed to the extent approved by the DSIR. In the instant case, the Assessing Officer has already allowed deduction under section 35(2AB....