Weighted deduction u/s. 35(2AB) allowed as amount from DSIR qualifies as soft loan: ITAT Vishakhapatnam

Arrdy Engineering Innovations (P.) Ltd. Vs ACIT (ITAT Visakhapatnam) ITAT Vishakhapatnam allowed weighted deduction under section 35(2AB) of the Income Tax Act since amount received from Department of Scientific & Industrial Research [DSIR] is soft loan and hence cannot be considered as grant-in-aid. Facts- On verification of records, it was found that the assessee-company had entered into an agreement with Department of Scientific & Industrial Research for R&D of a particular project, whereas assessee has claimed to have spent Rs.1,72,85,369/- and claimed weighted deduction of Rs....