ITAT allows weighted Income Tax Deduction u/s 32(2AB) wrt expenses incurred on clinical trials [Read Order]

The bench the assessee is entitled to weighted deduction in association with the expenses incurred on clinical trials
By Saagarika Gopinath - On July 31, 2024 12:32 pm - 2 mins read
income tax deduction - clinical trials - ITAT Hyderabad - Income Tax Act - weighted income tax deduction - tax news - income tax - income tax news – ITAT - taxscan

The Hyderabad bench of the Income Tax Appellate Tribunal ( ITAT )  allowed the weighted deduction in respect of the expenses incurred on clinical trials and held that the assessee is entitled to deduction under Section 35(2AB) of the Income Tax  Act, 1961. The assessee, Aurobindo Pharma Ltd, had filed its income tax return for…

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