Advertisement Expenses incurred for Personal purposes not allowable as Deduction u/s 37(1): ITAT [Read Order]

Advertisement Expenses - Deduction - ITAT - taxscan

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has held that advertisement expenses incurred for personal purposes are not allowable as a deduction under section 37(1) of the Income Tax Act,1961. Dr Keyur Parikh, the assessee is a medical professional earning professional income, income from salary, house property and capital gain and other…

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