Section 35(2AB) not provides for cut off date for eligibility

Shilpa Medicare Ltd. Vs ACIT (ITAT Bangalore) Provisions of Sec. 35(2AB) of Income Tax Act, nowhere suggest simply that R& D facility is approved from particular date and in other words, it is no where suggested that date of approval only will be cut off date for eligibility. The court further held that once facility is approved, the entire expenditure so incurred on development of R&D facility has to be allowed for weighted denudation. The Hon’ble Delhi High Court in the case of Maruthi Suzuki India Pvt Ldt., Vs Union of India (2017) 397 ITR 728 (Delhi), had considered an identical ...