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Deduction u/s 80IB and 80IC corresponding to allocation of R&D expenditure allowed
Case Law Details
- Case Name
- DCIT Vs Macleods Pharmaceuticals Ltd (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 31/01/2023
- Courts
- All ITAT, ITAT Mumbai
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DCIT Vs Macleods Pharmaceuticals Ltd (ITAT Mumbai)
ITAT Mumbai held that disallowance for deduction under section 80IB and 80IC of the Income Tax Act corresponding to the allocation of R&D expenditure is deleted.
Facts- Post search and seizure, various additions/disallowances including (i) disallowance of expenses on promotional items including free gifts to doctors/medical representatives (ii) proportionate withdrawal of deduction under section 80IB & 80IC of the Act for apportionment of research and development expenses and (iii) withdrawal of deduction u/s 80IC for ...
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