Conditions of Rule 18DA(8A) can be Looked into Only by Prescribed Authority & Not by the AO

CIT Vs DCIT (Karnataka High Court) The issue under consideration is whether the Tribunal is right in holding that the conditions of Rule 18DA(8A) can be looked into only by the prescribed authority and not by the Assessing Officer? High Court states that, the Tribunal, in the instant case, has examined the issue on merits and has held that Rules clearly contemplate even sponsored research program and the entire receipts of the assessee are from contract research and not of own research. It has further been held that any issue with regard to violation of conditions mentioned in Rule 18DA can be...