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Details of business promotion expenditure duly produced and hence disallowance u/s 37 unjustified
Case Law Details
- Case Name
- DCIT Vs Glaze Trading India Pvt. Ltd. (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Delhi
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DCIT Vs Glaze Trading India Pvt. Ltd. (ITAT Delhi)
ITAT Delhi held that details of business promotion expenditure duly produced and it is also demonstrated that company being FMCG distribution/advertisement expenses for substantial part of expenditure. Accordingly, disallowance u/s 37 of the Income Tax Act unjustified.
Facts- The assessee is a company engaged in the business of trading FMCG (Fast Moving Consumer Goods) and home appliances, Organic Khad which is based on the chain of agents/ distributors engaged in sales almost all over India. Assessee filed return of income which was selected ...
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