ITAT disallows claim for Business Expenditure since Items distributed are more of a Personalized in Nature [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Delhi bench has held that the claim for business expenditure cannot be allowed because the items distributed are more of a personalized in nature. The assessee-company is engaged in the business of manufacturing of automobile parts. During the relevant assessment year, the Assessing Officer disallowed Rs.2,06,254/- being […]

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