State-run aerospace behemoth Hindustan Aeronautics Ltd (HAL) on Friday said the company received an income tax refund order from the office of the joint commissioner of IT for the assessment year 2012-13.

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The order was received pursuant to the direction of ITAT, Bengaluru 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 company said in an exchange filing.

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The order was passed allowing R&D expenditure of Rs 725.98 crore as capital expenditure, resulting in the refund of Rs 570.05 crore. The refund of Rs 570.05 crore includes of interest Rs 163.68 crore.

(Edited by : Pradeep John)