https://www.taxtmi.com/caselaws?id=457823 ITAT Delhi ruled in favor of the assessee on multiple grounds. The tribunal allowed deduction of trademark payments to associated enterprises, following precedent from earlier assessment years where HC had not stayed the order. Ad-hoc disallowance of 30% advertisement expenditure was deleted, holding such expenses were wholly for business purposes. However, disallowance of delayed PF contributions was upheld following Delhi HC precedent in Bharat Hotels Ltd. Interest under Section 234A was deleted as return was filed within due date, but Section 234B interest was upheld as consequential. en-us Tue, 26 Feb 2019 00:00:00 +0530 Fri, 27 Sep 2024 21:11:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457823 ITAT Delhi ruled in favor of the assessee on multiple grounds. The tribunal allowed deduction of trademark payments to associated enterprises, following precedent from earlier assessment years where HC had not stayed the order. Ad-hoc disallowance of 30% advertisement expenditure was deleted, holding such expenses were wholly for business purposes. However, disallowance of delayed PF contributions was upheld following Delhi HC precedent in Bharat Hotels Ltd. Interest under Section 234A was deleted as return was filed within due date, but Section 234B interest was upheld as consequential. Case-Laws Income Tax Tue, 26 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457823