https://www.taxtmi.com/caselaws?id=352727 The Tribunal allowed the appeal of the assessee, setting aside the disallowances made by the AO and confirmed by the CIT(A). The Tribunal emphasized that the genuineness of the expenses was not doubted and that the MCI regulations did not apply to pharmaceutical companies. The CBDT circular was deemed clarificatory and not the basis for disallowance. The Tribunal's decision was in line with the jurisdictional High Court's ruling in a similar case. en-us Tue, 12 Dec 2017 00:00:00 +0530 Tue, 19 Dec 2017 10:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352727 The Tribunal allowed the appeal of the assessee, setting aside the disallowances made by the AO and confirmed by the CIT(A). The Tribunal emphasized that the genuineness of the expenses was not doubted and that the MCI regulations did not apply to pharmaceutical companies. The CBDT circular was deemed clarificatory and not the basis for disallowance. The Tribunal's decision was in line with the jurisdictional High Court's ruling in a similar case. Case-Laws Income Tax Tue, 12 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352727