In the result, we hold that the Tax Authorities were not justified in apportioning R & D expenditure and ESOP cost to the units which claimed exemption u/s 10B, 80IB and 80IC of the Act
Bench: Shri D. Manmohan & Shri S. Rifaur Rahman
capital in nature. Assessee was also called upon to furnish details of Research and Development (R & D) expenses in connection with the claim of weighted deduction. Accordingly, the assessee furnished the details of R & D expenditure. Pages 97 & 98 of the paper book refers to the explanation offered by the assessee with regard to the show-cause notice issued