DSIR statutorily bound to issue Form 3CL within 120 days: HC

SRF Ltd Vs Union of India (Delhi High Court) Section 35(2AB) of the Act provides for weighted deduction of one and one half times (150%) of the expenditure incurred by a company on scientific research on in-house R&D facilities approved by the prescribed authority i.e. DSIR. In support of his submission, he relies upon Rule 6(1B) of the Rules. Further, according to him, Section 35(2AB)(3) provides that no company shall be entitled to deduction, unless it has entered into an agreement with DSIR for cooperation in R&D facility, which in terms of Rule 6(4) has to be in Form 3CK. DSIR, on ...