Section 35(2AB): Cut of date mentioned in DSIT certificate is of no relevance

ACIT Vs Rex-tone Industries Ltd. (ITAT Mumbai) During the course of assessment the assessee was asked to file the copy of approval given by the department of Scientific & Industrial Research u/s 35(2AB) of the Act. The A.O noticed that approval was granted on 03.04.2012 in the F.Y. 2012-13, therefore, he has disallowed the claim of deduction pertaining to the year under consideration stating that assessee was not entitled to claim deduction u/s 35(2ab) of the Act. It is noticed that assessee has made application for approval to the Scientific department of the Government of India on 08.11....