Revenue Expenditure incurred for Scientific Research allowable as deduction u/s 37 of Income Tax Act: ITAT [Read Order]

ITAT - Revenue - Revenue Expenditure - Revenue Expenditure incurred for Scientific Research - taxscan

The Income Tax Appellate Tribunal (ITAT) Bangalore bench held that revenue expenditure incurred for the scientific research is allowed as deduction under Section 37 of the Income Tax Act, 1961.The bench determined that even if  it was not certified by the Department of Scientific & Industrial Research the expenditure would be considered for deduction. Assessee…

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