Deduction u/s 80IB and 80IC corresponding to allocation of R&D expenditure allowed

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

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