Additional evidence against Section 35(2AB) disallowance: ITAT directs Re-adjudication

Lumis Biotech Pvt Ltd Vs DCIT (ITAT Mumbai)

In the case of Lumis Biotech Pvt Ltd vs. DCIT (ITAT Mumbai), the assessee appealed against the order of the National Faceless Appeal Centre (NFAC), which upheld the disallowance of weighted deductions for research and development under Section 35(2AA) and the addition of Rs. 6,03,970 due to non-deduction of tax. The Assessing Officer (AO) disallowed a deduction of Rs. 1,36,40,254 for lack of supporting documents and also disallowed 30% of certain expenses due to non-deduction of TDS, leading to an assessed total income of Rs. 1,56,46,605.

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