2007 (5) TMI 212

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.... on the facts and in the circumstances of the case, the Tribunal was in law, justified in holding that payments were not hit by the provisions of section 43B of the Income-tax Act, 1961 and deleting the addition of Rs. 81,151 and Rs. 10,320 under section 43B? 2. Whether, on the facts and in the circumstances of the case, the Tribunal was, in law, justified in holding that jeep cannot be equated....

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....) of section 37 indicates that it was meant to check extravagant expenditure by the assessees on certain items mentioned therein, namely advertisement, publicity, sales promotion, payment to hotels, running and maintenance of aircrafts and motor cars including hiring of aircrafts and motor cars. It has been held by this court in the case of CIT v. Jagaran Prakashan P. Ltd. [2008] 296 ITR 627 (I.T.....