https://www.taxtmi.com/caselaws?id=406385 The High Court held that the expenditure incurred on the MRF Pace Foundation was a legitimate business promotion expense, not charitable in nature. The Court emphasized that business decisions, including promotional activities, should be determined by the assessee, not the Assessing Officer. The Court overturned the Tribunal's decision and upheld the CIT(A)'s ruling, allowing the expenditure as a business deduction under Section 37 of the Income Tax Act. en-us Mon, 29 Mar 2021 00:00:00 +0530 Tue, 13 Apr 2021 08:59:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406385 The High Court held that the expenditure incurred on the MRF Pace Foundation was a legitimate business promotion expense, not charitable in nature. The Court emphasized that business decisions, including promotional activities, should be determined by the assessee, not the Assessing Officer. The Court overturned the Tribunal's decision and upheld the CIT(A)'s ruling, allowing the expenditure as a business deduction under Section 37 of the Income Tax Act. Case-Laws Income Tax Mon, 29 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406385