ITAT rules AMP expenses as legitimate business costs u/s 37(1), not capital, for advertising liquor. High Court agrees.

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....Disallowance of AMP expenditure u/s 37(1) - Revenue expenditure or capital expenditure - advertising and promotion of liquor in India - ITAT has held that the AMP expenditure incurred by the Assesee was in the nature of bonafide business expenditure in furtherance of its legitimate business interests. - Order of ITAT allowing the deduction sustained - HC....