https://www.taxtmi.com/caselaws?id=257834 The Tribunal dismissed the department's appeal, upholding the CIT(A)'s decisions for the Assessment Year 2010-11. The disallowance of sales promotion expenses was partially allowed, restricting the disallowance to 10% of the total expenses, as the expenses were deemed essential for launching new products. The deletion of the addition on account of the difference in closing stock values was upheld, with the Tribunal noting the provisional nature of the stock statement and minor reconciliations. The Tribunal found the Assessing Officer's addition unjustified, ultimately dismissing the appeal. en-us Fri, 30 May 2014 00:00:00 +0530 Tue, 24 Mar 2015 07:27:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257834 The Tribunal dismissed the department's appeal, upholding the CIT(A)'s decisions for the Assessment Year 2010-11. The disallowance of sales promotion expenses was partially allowed, restricting the disallowance to 10% of the total expenses, as the expenses were deemed essential for launching new products. The deletion of the addition on account of the difference in closing stock values was upheld, with the Tribunal noting the provisional nature of the stock statement and minor reconciliations. The Tribunal found the Assessing Officer's addition unjustified, ultimately dismissing the appeal. Case-Laws Income Tax Fri, 30 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257834