R&D Activity in Biotechnology Services would be treated as ‘Computer Software’: ITAT [Read Order]

Computer Software-ITAT - taxscan

The Income Tax Appellate Tribunal (ITAT), Bangalore has held that the R&D activity in biotechnology services shall be treated as “computer software” for the purpose of allowing benefit of section 10B of the Income Tax Act, 1961. The assessee is engaged in the business of undertaking R&D activity in biotechnology. The Principal CIT, while invoking…

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