https://www.taxtmi.com/caselaws?id=304891 The Tribunal allowed the appellant's appeal, overturning the partial disallowance of Global Trade Development (GTD) expenses. The Tribunal found the expenses crucial for fulfilling the society's objectives of promoting the Indian IT industry globally. Citing previous allowances by ITAT and the acceptance of such expenses in various assessment years, the Tribunal concluded that the disallowance by the CIT(A) was unwarranted. Consequently, the Tribunal quashed the disallowance of GTD expenses, leading to the dismissal of the Stay Applications by the appellant. en-us Thu, 26 Nov 2020 00:00:00 +0530 Fri, 04 Nov 2022 08:50:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304891 The Tribunal allowed the appellant's appeal, overturning the partial disallowance of Global Trade Development (GTD) expenses. The Tribunal found the expenses crucial for fulfilling the society's objectives of promoting the Indian IT industry globally. Citing previous allowances by ITAT and the acceptance of such expenses in various assessment years, the Tribunal concluded that the disallowance by the CIT(A) was unwarranted. Consequently, the Tribunal quashed the disallowance of GTD expenses, leading to the dismissal of the Stay Applications by the appellant. Case-Laws Income Tax Thu, 26 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304891