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2021 (11) TMI 701 - ITAT MUMBAIDisallowance by relying on CBDT Circular No. 5/2012 r.w explanation 1 to Sec. 37(1) - scope of regulations issued by Medical Counsel of India - claim of marketing & promotional activity under the selling and distribution expenses u/sec. 37(1) - HELD THAT:- We find that the facts of the present case are similar and identical to the above decision in respect of sales promotional expenses claimed in the profit and loss account. The Hon’ble Tribunal in the ARISTO PHARMACEUTICALS P LTD. [2019 (7) TMI 862 - ITAT MUMBAI] has considered the provisions of law, facts and circumstances, CBDT circular, MCI guidelines and granted the relief to the assessee. Accordingly, we follow the judicial precedence and set aside the order of the CIT(A) to the extent of disallowance of sale promotion expenses incurred by way of gifts, freebies, travel allowance and monetary grants and direct the Assessing Officer to delete the addition and allow the ground of the appeal of assessee.
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