2011 (5) TMI 1108

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....60A of the Income Tax Act, 1961 (in short "the Act") against the order dated 17.11.2008 passed by the Income Tax Appellate Tribunal, Delhi Bench "C", New Delhi (hereinafter referred to as "the Tribunal") in ITA No. 1564(Del)/2006, for the assessment year 2003-04, claiming the following substantial questions of law:- "(i) Whether on the facts and circumstances of the case and in law, the ITAT has erred in holding that the differential expenses on account of trade fair and exhibition, advertising and publicity and sales promotion are not in the nature of deferred revenue expenditure? (ii) Whether on the facts and circumstances of the case and in law, the ITAT has erred in holding that the expenses should be allowed for the assessment year....

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....ner of Income Tax (Appeals) [in short "the CIT(A)"] vide order dated 20.3.2006 affirmed the order of the Assessing Officer. Dissatisfied with that order, the assessee approached the Tribunal who vide order dated 17.11.2008 allowed the appeal and deleted the addition made by the Assessing Officer and affirmed by the CIT(A). Hence, the present appeal by the revenue. 4. We have heard learned counsel for the appellant. 5. According to the learned counsel for the revenue, the expenses which were incurred by the assessee on account of trade fair and exhibition, advertising and publicity and sales promotion were deferred revenue expenditure, the benefit of which was to be availed by the assessee over a number of years. 6. We are unable to accep....