TMI Blog2022 (2) TMI 331X X X X Extracts X X X X X X X X Extracts X X X X ..... x neutral in the instant case, hence there is no call to go into the technicalities of the issue. Hence, the appeal of the assessee on this ground is allowed. As gone through the expenditure and find that they pertain to barricading for installation of Vinyls, Unipol fabrications and hoardings which are indeed in the nature of advertising. Hence, we hereby direct that the disallowance made by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d Business Promotion expenses to the tune of ₹ 13,23,600/- on the basis of contention that the same was paid as advance and expenditure has not been crystallized for the year under consideration. This contention of ld. CIT(A) is arbitrary and is based solely on assumptions, surmises and conjectures as full services were performed during the same assessment year against the payment of this am ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hence it is totally wrong, unjustified arbitrary which needs to be deleted in full. 4. The return of income was filed on 15.10.2010 declaring loss of ₹ 4,46,56,632/-. A search seizure operation u/s. 132 of the Income Tax Act, 1961 was carried out on 19.10.2010 in the case of IREO Group of cases. During the course of search carried out at the different premises located in India in I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been crystallized for the year under consideration, therefore, the same cannot be treated to have been incurred for the relevant previous year and cannot be allowed as expenditure within the meaning of provisions of Section 37(1) of the Act. Hence, the addition to the extent of ₹ 13,23,600/- is sustained. The ld. CIT(A) confirmed the disallowance. The returned income for the instant year 20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unt of ₹ 3.52 crores out of the disallowance of ₹ 3.98 crores and sustained the disallowance of ₹ 46.45 lacs holding that this expenditure is not in the nature of advertisement and business promotion. 9. Before us, it was argued that these are the expenses indeed pertaining to advertising. 10. We have gone through the expenditure and find that they pertain to barricading fo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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