https://www.taxtmi.com/caselaws?id=756631 ITAT Delhi allowed the assessee's appeal regarding business and promotion expenses under Section 37(1). The assessee had claimed expenses for a party at Taj Mahal Hotel including buffet dinner, liquor, and taxes, plus Rs. 1,04,318 for food and liquor at DLF Club Gurgaon for business meetings. The tribunal held these expenditures were revenue in nature and fully allowable as they related to launching a new food product and promoting a new business line. The AO's order was set aside and CIT(A)'s order was modified, granting the claimed deductions. en-us Wed, 24 Apr 2024 00:00:00 +0530 Wed, 07 Aug 2024 06:43:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756631 ITAT Delhi allowed the assessee's appeal regarding business and promotion expenses under Section 37(1). The assessee had claimed expenses for a party at Taj Mahal Hotel including buffet dinner, liquor, and taxes, plus Rs. 1,04,318 for food and liquor at DLF Club Gurgaon for business meetings. The tribunal held these expenditures were revenue in nature and fully allowable as they related to launching a new food product and promoting a new business line. The AO's order was set aside and CIT(A)'s order was modified, granting the claimed deductions. Case-Laws Income Tax Wed, 24 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756631