Relief to Xerox India: ITAT directs AO to delete adjustment made on account of AMP Transactions

The Income Tax Appellate Tribunal (ITAT), Delhi bench in its recent order directed the Assessing Officer (AO) to delete the adjustment made on account of Advertisement, Marketing, and Sales Promotion (AMP) transactions. The tribunal further directed the AO to delete the disallowance made on account of depreciation on capital assets converted into stock in trade. […]

from Taxscan | Simplifying Tax Laws https://ift.tt/3gFvG9Z