Hindustan Aeronautics has received Income Tax Refund Order from the Office of Joint Commissioner of Income Tax, Bangalore for the
Assessment Yeas 2012-13 in pursuant to the direction of Hon'be ITAT, Bangalore to allow R & D expenditure as capital expenditure under Sec 35(1 )(iv) of the income Tax Act 1961 ,which was disallowed during the assessment.
The said order was passed allowing R&D Expenditure of Rs 725.98 crore as capital expenditure, resulting in refund of Rs 570.05 crore. The above refund of Rs 570.05 crore includes of interest Rs. 163.68 crore.
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