Section 35(2AB) deduction- ITAT allows Revision of unverified revenue expenditure

Advertisement Maharashtra Hybrid Seeds Company Private Limited Vs PCIT (ITAT Mumbai) PCIT has passed the impugned revision order for the reason that the AO has not properly examined the weighted deduction claimed u/s 35(2AB) of the Act vis-à-vis Form 3CL. However, the AO has reopened the assessment and has examined the above said Form 3CL, but he has restricted the examination with respect to Capital Expenditure. Thus, the claim of the assessee towards revenue expenditure remained unverified. It was submitted that the assessee has filed a rectification petition u/s 154 of the Act submittin...