Segregation of Expenditure not sufficient reason to deny the benefit u/s 35(2AB): ITAT uphold allowance of weighted Deduction of Expenditure on Serum Institute of India

By Taxscan Team - On November 4, 2022 9:54 am - 2 mins read

Segregation - Expenditure - ITAT - weighted Deduction - Serum Institute of India - taxscan

Segregation of Expenditure, not sufficient reason to deny the benefit under section 35(2AB) of the Income Tax Act,1961, ruled the Pune Bench of the Income Tax Appellate Tribunal (ITAT) and upheld the allowance of weighted Deduction of Expenditure on Serum Institute of India. The respondent-assessee claimeda weighted deduction of Rs.86,32,04,668/- under the provisions of section…

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