ITAT Upholds Overseas R&D Expenses as Capital Expenditure, Citing Consistency with Prior Years [Read Order]
The Tribunal, citing its decision for AY 2011-12, ruled that while foreign R&D expenses were ineligible for a weighted deduction under Section 35(2AB), they qualified as capital expenditure under Section 35(1)(iv)
The Pune Bench of Income Tax Appellate Tribunal(ITAT) upheld the deduction of overseas Research and Development (R&D) expenses as capital expenditure, citing consistency with prior years. The Revenue-appellant, appealed against the Commissioner of Income Tax(Appeals)[CIT(A)] order for the Assessement year 2015-2016.In this case, Mahle Anand Thermal Systems Pvt.Ltd,respondent-assessee,was involved in manufacturing automobile parts like heat…
Your free access to Taxscan has Expired
To read the article, get a premium account.
Taxscan Premium
Why should you subscribe?
Enjoy our website without interruptions from advertisements
Receive Daily newsletters
Receive realtime Telegram/Whatsapp news updates
Download original Judgements / Order / Notifications / Circulars, etc
