ACIT, CIRCLE- 18(1), NEW DELHI vs. NEARBUY INDIA P.LTD, NEW DELHI

The solitary grievance of the revenue is that the CIT(A) erred in not upholding the disallowance amounting to Rs.211625723/- made by the AO on account of AMP expenses.

At the very outset the Counsel for the assessee stated that the impugned quarrel has been settled by the assessee under the VSVS Act, 2020. The Counsel submitted form 3 and form 4 in support of his submission.

We have carefully perused form 3 wherein the details of pending appeal has a reference to which is the impugned appeal.

Noting the contents and the submission of the Counsel this appeal by the revenue is treated as infructuous. However, the revenue is given a liberty to approach this Tribunal if the AO finds that the impugned quarrel has not been settled under the VSVS 2020.

Decision announced in the open court on 14.09.2022.