Dismissing the appeal the Court held that the Appellate Tribunal had analysed the evidence placed on record to evaluate whether or not the transactions relating to web advertisement development and purchase of the customised software, were genuine. The disallowances were justified. ( AY.2004-05, 2005-06)
Fiitjee Ltd. v PCIT (2020) 423 ITR 354 / 271 Taxman 177 (Delhi)(HC)
S.37(1): Business expenditure — Advertisement expenses – Failure to prove the genuineness of expenses – Disallowance is held to be justified