AO Cannot Determine Business Promotion Effectiveness – ITAT Allows expenses

Page ContentsDCIT Vs Agni Estates & Foundations Pvt. Ltd (ITAT Chennai)Interest Disallowance under Section 36(1)(iii)Disallowance of Business Expenses under Section 37(1)Conclusion 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 Com...