INCOME TAX : Where assessee gave up its claim of deduction under section 35(1)on account of scientific expenses paid to a research association as admittedly conditions required for claiming such expenditure under said section was not satisfied by assessee, since there was no dispute that said expenditure was incurred in ordinary course of business, Tribunal was right in allowing alternate claim of assessee toward scientific expenses under section 35(1) as revenue expenditure under section 37(1)INCOME TAX : Where assessee gave up its claim of deduction under section 35(1)on account of scientific expenses paid to a research association as admittedly conditions required for claiming such expenditure under said section was not satisfied by assessee, since there was no dispute that said expenditure was incurred in ordinary course of business, Tribunal was right in allowing alternate claim of assessee toward scientific expenses under section 35(1) as revenue expenditure under section 37(1)www.taxmann.com Latest Case LawsRead More
