Form 3CL for weighted deduction u/s. 35(2AB) not mandatory for period prior to AY 2016-17

Flamingo Pharmaceuticals Ltd. Vs DCIT (ITAT Mumbai)

ITAT Mumbai held that requirement of Form no. 3CL for weighted deduction under section 35(2AB) of the Income Tax Act is effective only from AY 2016-2017. Accordingly, denial of claim for pre-amended period is not justifiable. Thus, appeal is allowed.

Facts- During the assessment proceedings, AO noticed that as the assessee had claimed weighted deducted u/s. 35(2AB) of the Act, in respect of capital expenditure towards Research and Development (R & D) called upon the assessee to furnish approval of the

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