No deduction for advertisement expenses paid to non existent companies

Fiitjee Ltd Vs PCIT (Delhi High Court) Conclusion: Web advertisement expenses and depreciation claimed by assessee in respect of software purchase was not an allowable deduction as the expenses claimed by assessee were bogus and assessee would not have been able to substantiate the genuineness of the transactions by producing relevant and material evidence. Held: AO had disallowed the web advertisement expenses and the depreciation claimed by assessee in respect of software purchase on the ground that the web advertisement expenses were found to be bogus and assessee was not able to establish,...