Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2011 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (10) TMI 457 - DELHI HIGH COURTDisallowance of business promotion expenses - Assessee claimed expenses relate to the gift items for presentation - CIT(A) restricted disallowances only to 10% to the total expenditure - Tribunal affirmed CIT - Revenue further appealed - Held That:- Tribunal has not considered the issue properly. High Turnover of 16.13 Crores & interest income of 5.35 Crores cannot be the ground to allow whatever expenditure is claimed by the assessee as business promotion expenses. Further the purchases were in the name of directors and not assessee. Order of Tribunal is set aside and case remitted back to AO.
|