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)

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