Business promotion & Diwali expenses allowable as genuineness not doubted

ACIT Vs Goyal Engineering Polymer (P.) Ltd (ITAT Delhi) ITAT Delhi held that there is no doubt about the genuineness of the expenditure of business promotion expenses and Diwali expenses and there is also no finding that such expenses are incurred for the personal purpose/ extraneous nature of expenses. Facts- The assessee company filed its return of income for the A.Y. 2012-13 on 25.01.2013 electronically declaring total income of Rs.1,88,80,180/-. The case of the assessee company was selected for scrutiny and thereafter, assessment was framed under section 143(3) of the I.T. Act, 1961 vide o...