Weighted deduction u/s 35(2AB) for clinical trials outside approved R&D facilities allowed: ITAT Hyderabad

ACIT Vs Aurobindo Pharma Ltd (ITAT Hyderabad)

ITAT Hyderabad held that weighted deduction u/s 35(2AB) of the Income Tax Act in respect of clinical trials expenses incurred outside approved R&D facilities is allowable post approval by prescribed authority.

Facts-
Vide the present appeal, the main issue contested is additions made in respect of the Corporate Guarantee commission, interest on receivables and disallowance of weighted deduction claimed under section 35(2AB) of the Income Tax Act, 1961.

Conclusion-

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