Entire R&D expense in India is eligible for weighted deduction u/s. 35(2AB): ITAT Pune

DCIT Vs Mahle Anand Thermal Systems Pvt. Ltd (ITAT Pune) ITAT Pune held that entire amount of R&D expense in India is eligible for weighted deduction u/s. 35(2AB) and R&D capital expense outside India is eligible for deduction u/s. 35(1)(iv) of the Income Tax Act. Facts- The assessee is engaged in the business of manufacturing of Automobile Ancillaries particularly Heat Exchangers i.e. Radiators, Evaporators, Condensers and Automotive Air Conditioning system. AO made the disallowance of Rs.8,31,07,474/- being the weighted deduction u/s 35(2AB) of the Act and Rs.1,04,77,500/- being the ...