Provision of S. 92B not applicable for AMP Expenses incurred for Business purpose in India: ITAT Grants Relief to L’oreal India [Read Order]

Provision of S. 92B not applicable for AMP expenses - Provision - AMP expenses - Business purpose - ITAT Grants Relief to L’oreal India - taxscan

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) recently held that Section 92B of the Income Tax Act, 1961, which defines International Transactions, does not apply to advertisement, marketing and promotion (AMP) expenses incurred for business purposes in India. As a result, relief was granted to L’Oreal India Private Limited, a subsidiary of…

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