R&D expenditure has to be apportioned between agricultural and non-agricultural activities and portion attributable to non-agricultural activities is to be allowed as deduction in computing taxable income

DECIDED BY: ITAT HYDERABAD BENCH ` B ‘, HYDERABAD , IN THE CASE OF: DCIT Vs. Vibha Agrotech Ltd., APPEAL NO: ITA No. 469/H/2008, DECIDED ON June 18, 2010 ORDER Per : Chandra Poojari, Accountant Member These six appeals are cross appeals directed against the different orders of the CIT(A)-IV for the assessment year years 2002-03, 2004-05 and 2005-06. 2. The Revenue in its appeal in ITA Nos.469, 470/Hyd/2008and 76/Hyd/2009 raised the common grounds as follows: The CIT(A) erred in allowing the income from sale of foundation seeds as income from agricultural activity and exempted u/s 10(1) o...