AO Cannot Determine Business Promotion Effectiveness – ITAT Allows expenses

DCIT Vs Agni Estates & Foundations Pvt. Ltd (ITAT Chennai)

The recent decision by the Income Tax Appellate Tribunal (ITAT) in the case of DCIT vs. Agni Estates & Foundations Pvt. Ltd sheds light on the contentious issues of interest disallowance under section 36(1)(iii) and the disallowance of business expenses under section 37(1) of the Income Tax Act. The appeals, arising from a common order of the Commissioner of Income Tax (Appeals) for the assessment years 2013-14 and 2014-15, presented two prim

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