ITAT allows sales promotion expenses incurred through credit card

Binayak Hi-Tech Engineering Ltd. Vs ITO (ITAT Kolkata) The Assessing Officer observed from the evidence furnished by the assessee that during the year, the assessee has incurred sales promotion expenses to the tune of Rs.10,51,242/-. The Assessing Officer noted that these payments were made towards payment of credit card bills of Ms. Priyanka Jhunjhunwala and also for purchase of snacks, restaurant bill, cake shop Kookie Jar, purchase of dresses etc. as well as payments made by directors towards restaurant bills. The Assessing Officer concluded that these expenses were personal in nature and a...