Subscription paid towards Brand Equity & Business Promotion was allowable as revenue expense

Tata Chemicals Limited Vs DCIT (ITAT Mumbai)

Conclusion: Addition of sum paid to Tata Sons Limited towards subscription paid for Brand Equity and Business Promotion Agreement was not justified as the said payment was made annually on a recurring basis for business purpose and the same was allowable as a revenue expense.

Held:  During the course of assessment proceedings, assessee submitted before AO stating that the Company had entered into an agreement

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