https://www.taxtmi.com/caselaws?id=238669 The ITAT upheld the AO's decision to disallow 25% of credit card expenses, rejecting the assessee's claim that they were for business promotion. The ITAT restored the AO's disallowance amount of Rs.3,37,245. Regarding business promotion expenses, the ITAT found the disallowance unjustified and remanded the issue for further examination. The ITAT also directed the AO to verify if prior period expenses were ascertained during the relevant assessment year. The ITAT partly allowed both appeals, addressing each issue raised by the parties. en-us Mon, 16 Sep 2013 00:00:00 +0530 Tue, 29 Oct 2013 09:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238669 The ITAT upheld the AO's decision to disallow 25% of credit card expenses, rejecting the assessee's claim that they were for business promotion. The ITAT restored the AO's disallowance amount of Rs.3,37,245. Regarding business promotion expenses, the ITAT found the disallowance unjustified and remanded the issue for further examination. The ITAT also directed the AO to verify if prior period expenses were ascertained during the relevant assessment year. The ITAT partly allowed both appeals, addressing each issue raised by the parties. Case-Laws Income Tax Mon, 16 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238669