Benefit u/s 35(2AB) available on expenditure on clinical trials outside approved in-house R&D facility

Marksans Pharma Ltd. Vs DCIT (ITAT Mumbai) ITAT Mumbai held that the benefit under section 35(2AB) of the Income Tax Act is also available in respect of expenditure on clinical trials outside the approved in-house R&D facility. Facts- The assessee is a company and is engaged in the business of manufacturing and trading drugs and pharmaceutical formulations, chemicals, and solvents. The return filed by the assessee was selected for scrutiny and statutory notices u/s. 143(2) as well as Section 142(1) of the Act were issued and served on the assessee. In its return, the assessee claimed weigh...