https://www.taxtmi.com/caselaws?id=754322 ITAT Raipur allowed assessee's appeal regarding advertisement expenses, holding that charges by related party agent were reasonable as they matched newspaper company rates, and 15% discount received by agent did not affect reasonableness determination. However, hoarding expenses matter was remanded to AO for verification of additional services claimed. Commission/brokerage expenses addition was also remanded due to AO's failure to consider documentary evidence. ITAT ruled in favor of assessee on depreciation claim, rejecting AO's contention that depreciation cannot be allowed when asset cost was already permitted as expenditure, noting assessee had not claimed asset cost as application and was entitled to depreciation under Section 32. en-us Wed, 20 Mar 2024 00:00:00 +0530 Thu, 20 Jun 2024 12:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754322 ITAT Raipur allowed assessee's appeal regarding advertisement expenses, holding that charges by related party agent were reasonable as they matched newspaper company rates, and 15% discount received by agent did not affect reasonableness determination. However, hoarding expenses matter was remanded to AO for verification of additional services claimed. Commission/brokerage expenses addition was also remanded due to AO's failure to consider documentary evidence. ITAT ruled in favor of assessee on depreciation claim, rejecting AO's contention that depreciation cannot be allowed when asset cost was already permitted as expenditure, noting assessee had not claimed asset cost as application and was entitled to depreciation under Section 32. Case-Laws Income Tax Wed, 20 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754322