AMP Expenditure Allowed as No Reimbursement Was Proved: ITAT Delhi

ACIT Vs Hariom Mobile Private Limited (ITAT Delhi) Price Drop Losses Allowed Because Distributor Bore Unreimbursed Margin Loss;  ITAT Deletes AMP Disallowance Because Advertisement Expenses Were for Distributor’s Own Business; Section 37 Deduction Allowed Because AMP Expenses Were Not Reimbursed by Brand Owner; ITAT Upholds Deletion of Price Drop Disallowance Because Commercial Loss Was Genuine. The Income Tax Appellate Tribunal (ITAT), Delhi, dismissed the Revenue’s appeals for Assessment Years 2019-20 and 2020-21 and upheld the orders of the Commissioner of Income Tax (Appeals) [CIT(A)]...