ITAT Confirms Addition Of Expenses Incurred On Brand Reminders, Customer Gifts For Doctor
1 year, 2 months ago

ITAT Confirms Addition Of Expenses Incurred On Brand Reminders, Customer Gifts For Doctor

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The Mumbai Bench of Income Tax Appellate Tribunal has confirmed the addition towards expenses incurred on brand reminders, customer gifts, and the purchase of medical books and journals for doctors.The bench of Rahul Chaudhary and Prashant Maharishi has relied on the decision of the Supreme Court in the case of Apex Laboratories, in which it was. The Mumbai Bench of Income Tax Appellate Tribunal has confirmed the addition towards expenses incurred on brand reminders, customer gifts, and the purchase of medical books and journals for doctors. 482,612,000 as The CIT stated that despite the IMC regulation 2002, circular number 05/2012 dated 1/8/2012 issued by the Central Board of Direct Taxes, the Supreme Court in the case of Apex Laboratories Private Limited dated 22/2/2022 has categorically held that if any expenses are prohibited by the law, the same cannot be allowed as deduction under Section 37 of the act. 11.60 crore on account of brand reminders, customer gifts, and the purchase of medical books and journals for medical professionals, i.e., doctors.

Medical Doctor Itat Cit Customer Gifts Brand Reminders Medical Books  gifts  itat  doctor  supreme  purchase  incurred  rs  member  held  reminders  addition  medical  confirms  income  journals  expenses  brand  customer

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1 year, 7 months ago

ITAT Deletes Income Tax Addition Towards ESOP

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