No sec. 263 revision for further disallowance if part of exp. was disallowed after proper verification
No sec. 263 revision for further disallowance if part of exp. was disallowed after proper verification. The ITAT Ahmedabad has given the order. Following is the conclusion of the order:
IN THE ITAT AHMEDABAD BENCH ‘B’
Torrent Pharmaceuticals Ltd. v.
Deputy Commissioner of Income-tax, Circle-4(1)(2), Ahmedabad
IT: Where during scrutiny assessment, Assessing Officer disallowed a part of business advancement expenses after verifying bills and vouchers, notice for revision for further disallowance was unjustified
IT: Where Assessing Officer after reasonably examining manufacturing process in business units of the assessee, re-determined claim of deduction under sections 80-IC and 80-IE, notice for revision was unjustified
IT: Where Approving Authority namely, DSIR had already excluded expenses on quality control and regulatory approval out of R&D expenses on which assessee had claimed weighted deduction under section 35 and Assessing Officer had taken note of same, notice for revision on the ground that Assessing Officer failed to exclude said expenses from R&D expenses was unjustified
IT: Where, during scrutiny assessment, Assessing Officer had excluded patent-related expenses, expenditure on clinical research, labor and job work charges, etc. out of R&D expenses on which assessee had claimed weighted deduction under section 35, notice for revision on ground that Assessing Officer had mechanically accepted assessee’s claim for deduction on R&D expenses was unjustified
CA Amresh Vashisht
Meerut
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