AO cannot Decide what is Good for Promoting Business: ITAT upholds Deletion of Disallowance of Sponsorship Expenses u/s 37 of Income Tax Act [Read Order]

By Fathima Karama A.M - On November 11, 2023 7:30 pm - 2 mins read
AO - Business - AO cannot Decide what is Good for Promoting Business - ITAT - Deletion - Disallowance - Income Tax Act - income tax - taxsscan

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has upheld the deletion of disallowance of sponsorship expenses under Section 37 of the Income Tax Act 1961 holding that the Assessing Officer (AO) could not decide what was good for promoting business. The assessee, Agni Estates & Foundations Pvt. Ltd claimed sponsorship expenses of Rs.280…

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