In the result, Ground No. 7 of the assessee’s appeal is allowed for statistical purposes
Bench: Shri Siddhartha Nautiyal & Shri Makarand V. Mahadeokar
section 36(1)(xii) of the I.T. Act, 1961. The plea of the ld. Counsel of the assessee that non-refundable grants sanctioned, are claimed as deduction only when funds are already utilized/Fund Utilisation Report (FUR) are received, also needs verification at the end of the Assessing Officer. We, therefore, set aside the order the Learned commission of Income