https://www.taxtmi.com/caselaws?id=64949 The tribunal partially allowed the assessee's appeal, ruling against the disallowance of sales promotion expenses under Section 37(2A) but dismissing the levy of interest under Section 216 for underestimation of advance tax. The tribunal held that the Diwali expenses related to business fell under the purview of Section 37(2A), justifying the disallowance. However, it concluded that the assessee promptly revised income estimates before the due date, complying with the law, and ruling that interest under Section 216 was not warranted due to the absence of deliberate underestimation. en-us Mon, 03 Sep 1990 00:00:00 +0530 Fri, 11 Feb 2011 13:05:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64949 The tribunal partially allowed the assessee's appeal, ruling against the disallowance of sales promotion expenses under Section 37(2A) but dismissing the levy of interest under Section 216 for underestimation of advance tax. The tribunal held that the Diwali expenses related to business fell under the purview of Section 37(2A), justifying the disallowance. However, it concluded that the assessee promptly revised income estimates before the due date, complying with the law, and ruling that interest under Section 216 was not warranted due to the absence of deliberate underestimation. Case-Laws Income Tax Mon, 03 Sep 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64949