Friday 16 October 2015

Sec. 14A disallowance shall also be added back for computing book profits under sec. 115JB

IT: Where assessee-company engaged in business of pharmaceuticals received product development charges which were credited to profit and loss account as part of normal sales, same was not to be reduced from expenditure incurred by assessee on carrying out scientific research on which section 35(2AB) deduction had to be allowed

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