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2018 (11) TMI 1618 - AT - Income TaxExpenditure u/s 37 - advertisement and business promotion expenses - AO has treated expenditure to the extent of ₹ 1,72,25,470/- to be part of work-in-progress, because assessee has not disclosed any income from such a project - HELD THAT:- CIT (A) after taking note of guidance note of ICAI and also the accounting standard has given a categorical finding that selling and marketing expenses being indirect expenditure cannot be taken to the work in progress and therefore such a disallowance made by the AO treating it to part of work-in-progress has rightly been deleted by him. Accordingly, order of CIT (A) on this score is upheld. Disallowance on account of gifts given during the festive season, it is matter of record that in the earlier years exactly similar issues were involved wherein on the stage of first appellate authority the matter has been decided in favour of the assessee. Since no new facts have been brought on record, therefore, we do not find any reasons to interfere in the finding of the CIT (A) and accordingly the same is affirmed. Appeal of the revenue is dismissed.
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