INCOME TAX : Where assessee had claimed sales promotion expenses in its book of accounts as business expenses, however, had not brought on record working of sales promotion expenses, matter was to be remanded back for de novo consideration, as primary onus was on assessee to prove that they were genuine and bonafide expenses which were incurred wholly and exclusively for purpose of business of assessee, thus satisfying mandate of section 37(1)INCOME TAX : Where assessee had claimed sales promotion expenses in its book of accounts as business expenses, however, had not brought on record working of sales promotion expenses, matter was to be remanded back for de novo consideration, as primary onus was on assessee to prove that they were genuine and bonafide expenses which were incurred wholly and exclusively for purpose of business of assessee, thus satisfying mandate of section 37(1)www.taxmann.com Latest Case LawsRead More
