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2024 (2) TMI 1165 - AT - Income TaxDisallowance of Advertisement and business promotion expense - addition made as such expenses were not incurred for earning revenue during the year - HELD THAT:- In our view this is not a valid reason having regard to the nature of assessee’s business and the method of accounting followed by it. These expenses have necessarily to be incurred for the purpose of marketing and selling of flats. It is not the case of the Revenue that the said expenses have not been incurred for the purposes of assessee’s business. Genuineness of the said expenses have also not been doubted by the Revenue. The assessee’s case is that it has followed Accounting Standards in respect of its project and the same has not been disputed by the Revenue authorities. For the reasons set out above and following the decision of Somnath Buildtech [2022 (11) TMI 250 - DELHI HIGH COURT] we allow Grounds of the assessee and direct the Ld. AO to delete the impugned disallowances. Denial of credit of TDS as appearing in Form 26AS - HELD THAT:- This needs verification. We, therefore, direct the Ld. AO to verify the assessee’s claim. If found to be correct, he should take remedial action and allow appropriate relief to the assessee. Appeal of the assessee is allowed.
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