2019 (2) TMI 1200

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....untant Member For the Assessee : Shri C. Suresh For the Revenue : Shri Phani Raju, DR ORDER PER SMT. P. MADHAVI DEVI, J.M. This is assessee's appeal for the A.Y 2009-10 against the order of the CIT (A)-5, Hyderabad, dated 29.03.2016. 2. Brief facts of the facts are that the assessee company, engaged in the business of manufacture of filters and accumulators, filed its return of i....

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....company's corporate social responsibility. Therefore, the assessee submitted that the expenditure satisfies all the conditions stipulated u/s 37(1) of the I.T. Act and should be allowed as such. 3. However, the AO was not convinced with the assessee's contentions and held that the assessee failed to produce any cogent evidence that the tickets were distributed amongst its business related perso....

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....and associates and thus, has been incurred wholly and exclusively for the purposes of business of the Appellant Company. 2. The Learned Commissioner of Income Tax Appeals- V failed to note that during the Assessment proceedings, the Learned Assessing Officer, Circle 2(2), Hyderabad neither called for nor afforded an opportunity to the Appellant Company to adduce evidence in support of the....

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.... in support of its claim u/s 37 of the Act are that it has purchased the IPL cricket match tickets to distribute them amongst its long standing customers to garner their goodwill and improve its business relations and therefore, it is its business expenditure. According to us, this is a plausible and acceptable submission. This is akin to distribution of gifts or articles on special occasions to t....