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Expenditure of Bio-technology Research & Development allowed before commencement of business
Case Law Details
- Case Name
- Aban Infrastructure Ltd. Vs DCIT (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Chennai
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Aban Infrastructure Ltd. Vs DCIT (ITAT Chennai)
ITAT Chennai held that expenditure of Bio-technology Research & Development cannot be disallowed simply on the allegation that expenditure was incurred before the commencement of a new line of business as such matching concept not application in the present case.
Facts-
The assessee has preferred the present appeal on the only ground urging disallowance of expenditure of Rs. 169.60 Lakhs on Bio-technology Research & Development during the relevant year. Assessee alleged that revenue has no right to disallow the expenditure without making ...
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