Deduction u/s.35(2AB) on expenditure in respect of patent filing in foreign countries & on foreign consultancy

IN THE ITAT MUMBAI BENCH ‘I’ USV Ltd. v/s. Deputy Commissioner of Income-tax IT Appeal Nos. 4517 & 5582 (Mum.) of 2010 [Assessment year 2007-08] Date of pronouncement – July 4, 2012 ORDER B.R. Mittal, Judicial Member These cross appeals are directed against the impugned order dated 19th April 2010, passed by the Commissioner (Appeals)-XXXXI, Mumbai, for assessment year 2007-08. Grounds raised by the assessee, read as follows:- “The Hon’ble Commissioner of Income Tax has erred in confirming the Assessing Officer action on disallowing the weight...