Reasonable amount of expense towards gifts for dealers is allowable

ACIT Vs Atlas Cycles (ITAT Delhi)

ITAT Delhi held that a reasonable amount of expenditure towards distribution of gifts amongst the dealers is allowable expenditure.

Facts-

AO disallowed a sum of 2,00,000/- out of Sales Promotions / Business Promotion A/c.

It was submitted that the assessee company has over 4000 dealers nationwide along with various other worldwide buyers and company executives need to

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