ITAT Allows Additional R&D Deduction as AO Granted Only 100% Instead of 200%

Advertisement Titan Company Limited Vs DCIT (ITAT Chennai) ITAT Permits Section 35(1)(iv) Deduction Because Scientific Research Expenditure Was Undisputed; ITAT Deletes Section 80IC TP Adjustment Because TPO Used Incorrect Benchmarking; Transfer Pricing Addition Deleted Because Revenue Produced No New Material; ITAT Upholds Section 80IC Relief Because Higher Profit Alone Cannot Justify TP Adjustment. The appeals before the ITAT Chennai comprised cross appeals by the assessee and the Revenue for Assessment Year (AY) 2017-18 and the Revenue’s appeal for AY 2019-20. The issues involved w...