Deduction u/s 35(2AB) is available only from AY 2008-09 if Ramp;D unit got approval w.e.f. 1-4-2007: HC

INCOME TAX : Where assessee-company claimed weighted deduction under section 35(2AB) pertaining to expenses incurred on in-house R amp; D facilities for relevant assessment years 2006-07 and 2007-08, since assessee had entered into an agreement with Department of Science and Industrial Research (DSIR) as per provision of section 35(2AB)(3) on 20-8-2008 and, further,INCOME TAX : Where assessee-company claimed weighted deduction under section 35(2AB) pertaining to expenses incurred on in-house R amp; D facilities for relevant assessment years 2006-07 and 2007-08, since assessee had entered into an agreement with Department of Science and Industrial Research (DSIR) as per provision of section 35(2AB)(3) on 20-8-2008 and, further,www.taxmann.com Latest Case LawsRead More

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