ITAT Allows Advertisement Expenses as Sponsorship & Promotional Activities Were Business-Related

Bengal Peerless Housing Development Company Ltd. Vs DCIT (ITAT Kolkata) The appeal was filed by the assessee against the order of the Commissioner of Income-tax (Appeals), Panaji, for Assessment Year 2013-14. The dispute primarily related to disallowances made by the Assessing Officer in respect of advertisement and publicity expenses, legal and professional fees, and a deduction claimed in relation to an earlier year’s disallowance. With regard to advertisement and publicity expenses, the Assessing Officer observed that the assessee had claimed expenditure of ₹42,20,000 and sought det...