https://www.taxtmi.com/caselaws?id=412860 The Tribunal allowed the appeal, holding that the expenses of Rs. 12,79,359 were incurred wholly and exclusively for business purposes and were not prohibited by law. The Tribunal concluded that the CBDT Circular and MCI Regulations do not apply to the assessee, a pharmaceutical company, and thus, the disallowance by the Assessing Officer was unjustified. The general ground of appeal was dismissed as not pressed. The appeal of the assessee was allowed, and the order was pronounced on 23/09/2021. en-us Thu, 23 Sep 2021 00:00:00 +0530 Wed, 29 Sep 2021 11:03:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412860 The Tribunal allowed the appeal, holding that the expenses of Rs. 12,79,359 were incurred wholly and exclusively for business purposes and were not prohibited by law. The Tribunal concluded that the CBDT Circular and MCI Regulations do not apply to the assessee, a pharmaceutical company, and thus, the disallowance by the Assessing Officer was unjustified. The general ground of appeal was dismissed as not pressed. The appeal of the assessee was allowed, and the order was pronounced on 23/09/2021. Case-Laws Income Tax Thu, 23 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412860