https://www.taxtmi.com/caselaws?id=373961 The Tribunal allowed the appeal filed by the assessee, holding that the sales promotion expenses were legitimate business expenditures and not disallowable under Explanation 1 to Section 37(1). The Tribunal dismissed the appeal filed by the Revenue, reinforcing that the MCI guidelines and CBDT circular were not applicable to pharmaceutical companies for the assessment year in question. The Tribunal emphasized that the CBDT circular could not retrospectively create a tax burden or liability. The final judgment upheld the assessee's claim for the sales promotion expenses incurred during the relevant period. en-us Fri, 21 Dec 2018 00:00:00 +0530 Wed, 23 Jan 2019 11:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373961 The Tribunal allowed the appeal filed by the assessee, holding that the sales promotion expenses were legitimate business expenditures and not disallowable under Explanation 1 to Section 37(1). The Tribunal dismissed the appeal filed by the Revenue, reinforcing that the MCI guidelines and CBDT circular were not applicable to pharmaceutical companies for the assessment year in question. The Tribunal emphasized that the CBDT circular could not retrospectively create a tax burden or liability. The final judgment upheld the assessee's claim for the sales promotion expenses incurred during the relevant period. Case-Laws Income Tax Fri, 21 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373961