Gift to Customers not Deductible as Business Expenditure since Its Nature and Identity of Recipients was not Disclosed: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench has observed that gift to the customers cannot be treated as Business expenditure for granting income tax deduction since the assessee failed to prove the nature of the gift and the identity of the recipients. In the instant case, the Assessing Officer observed that the assessee- company, […]

The post Gift to Customers not Deductible as Business Expenditure since Its Nature and Identity of Recipients was not Disclosed: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.

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