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Section 35(2AB) Deduction Cannot Be Denied for Missing Form 3CL If R&D Is Proven
Case Law Details
- Case Name
- Malwa Oxygen & Industrial Gases Private Limited Vs ITO (ITAT Indore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Indore
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Malwa Oxygen & Industrial Gases Private Limited Vs ITO (ITAT Indore)
Failure to file Form 3CL for claiming weighted deduction u/s 35(2AB) did not preclude for 100% R&D Deduction u/s 35(1)(i)
Conclusion: Denial of weighted deduction u/s 35(2AB) for non-furnishing of Form 3CL did not preclude normal deduction u/s 35(1)(i) and depreciation u/s 32, as the research was related to the assessee’s business. Matter remanded to AO for verification and allowance in accordance with law.
Held: Assessee-company was engaged in manufacturing intermediates and speciality chemicals, claimed weighted d...
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