Expenses incurred for conducting clinical trials of Pharmaceuticals Companies outside organization allowable as deduction u/s 35 (2AB) of Income Tax Act: ITAT [Read Order]

The Ahmedabad bench Income Tax Appellate Tribunal ( ITAT ) held that expenses incurred for conducting clinical trials of pharmaceuticals companies outside organization allowable as deduction under Section 35(2AB) of the Income Tax Act, 1961 The Assessee Intas Pharmaceuticals Ltd.is having international transactions with its Associated Enterprises. The assessee advanced certain payment to its AE’s…