No Addition for Showing Net Impact of Marketing Income under head Marketing Cost in P&L A/c

Orion Property Management Services Ltd. Vs. ITO (ITAT Bangalore) The issue under consideration is whether CIT(A) is correct in making addition of Sponsorship and Promotional income by reducing it from marketing cost? In the instant case, the marketing income has been considered under the head marketing cost and net of expenses is debited to P&L account under the head ‘Other expenses’ by the assessee. ITAT states that, the said amount was considered while computing expenses under the head, ‘Marketing Cost’ before debiting it to P&L account. Ld.CIT(A) in his order, notes that, cl...