CBDT Circular Restricting Amenities to Doctors is not retrospective

M/s D.D. Pharmaceutical Pvt. Ltd. Vs. The ACIT (ITAT Jaipur) The assessee is engaged in the business of manufacturing of pharmaceuticals. The assessee has claimed to have incurred advertisement, sales promotion, entertainment, traveling, business and miscellaneous expenses on doctors and business guests total amount to Rs. 71,97,585/-. The AO noted that the expenditure incurred by the assessee is hit by explanation to Section 37(1) of the Act in view of the MCI Regulations, 2002 which were issued on 10.12.2009 w.e.f. 14.12.2009 prohibiting the doctors and medical practitioners from receiving g...