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53 orders · Page 2 of 2
The Tribunal held that the expenditure incurred on gifts to doctors and related parties by the veterinary medicine trader is similar to freebies provided by pharmaceutical companies. Therefore, it is not admissible as a deduction under Section 37(1) of the Income-tax Act, 1961.
The Tribunal decided to grant the assessee one more opportunity to present their case before the Assessing Officer. The Assessing Officer is directed to adjudicate the matter on its merits after providing the assessee with a reasonable opportunity to be heard.
The Tribunal condoned the delay in filing the appeals, finding the reasons to be reasonable and bonafide. The appeals were restored to the CIT(A) for a decision on merits.