M/S. ASHOK LEYLAND LIMITED,CHENNAI vs. ACIT NON CORPORATE CIRCLE 8(1)-LTU-2, , CHENNAI

ITA 554/CHNY/2023Status: DisposedITAT Chennai14 February 2025AY 2018-19Bench: SHRI ABY T. VARKEY (Judicial Member), SHRI JAGADISH (Accountant Member)55 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that furnishing of Form 3CL by DSIR is a prerequisite for claiming weighted deduction under Section 35(2AB) as per Rule 6(7A)(b) of the Income-tax Rules, 1962. Therefore, the weighted deduction was rightly denied.

What were the facts?

The assessee claimed weighted deduction for R&D expenditure under Section 35(2AB). The AO disallowed the weighted deduction due to the absence of Form 3CL from DSIR. The CIT(A) partially upheld the disallowance but corrected the calculation.

What were the issues?

Whether the absence of Form 3CL from DSIR prevents the claim of weighted deduction for R&D expenditure under Section 35(2AB)?

Which sections of the Income-tax Act were involved?

Section 35(2AB)

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Cases cited in this judgment(10)Show list

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Income Tax Appellate Tribunal, ‘A’ BENCH: CHENNAI

Before: SHRI ABY T. VARKEY & SHRI JAGADISH

For Respondent: Mr. Nilay Baran Som, CIT
Hearing: 21.11.2024Pronounced: 14.02.2025

Heard together (2 matters)

ITA No.554/Chny/2023
ITA No.561/Chny/2023

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PER ABY T. VARKEY, JM: These are appeals preferred by the assessee & the Revenue against

the order of the Learned Commissioner of Inco

The order continues below.

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