ASSTT. CIT, CIR- 7, NAGPUR vs. M/S. NEWQUEST CORPORATION LTD., CHANDRAPUR
ITA 328/NAG/2014[2008-09]Status: DisposedITAT Nagpur28 Jun 2022AY 2008-09
Bench: Shri Sandeep Gosain, Jm & Shri Arun Khodpia, Am Assessment Year: 2008-2009 The Acit Vs. M/S.Newquest Corporation Ltd. Circle-7, (Now Known As M/S. Avantha Nagpur Holding Ltd. Ballalrpur Paper Mills P.O. Ballarpur, Distt. Chandrapur Pan No.:Aabcb 6134 E Appellant Respondent
For Appellant: Shri K.P. Dewani (Adv.)For Respondent: ShriPiyushKolhe (CIT-DR)
Section 40
depreciation allowable thereon as per the prescribed rules and procedures under the Income-tax Act. In the instant case, indisputably,
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ACIT, CIRCLE-7, NAGPUR VS M/s. Newquest Corporation Ltd.
(Now known as Avantha Holdings Ltd) advertisement expenses towards brand building are revenue in nature nor any material has been placed before us by the Revenue, suggesting that any tangible