Held that disallowance on purchase of trade samples also subject matter of Transfer Pricing adjustment. Assessing Officer is directed to allow necessary relief in event same income gets doubly taxed. Sales return is not allowable as revenue expenditure. Expenditure incurred with reference to refurbishment of retail showroom is allowable as revenue expenditure. (AY.2016-17)
Nike India P. Ltd. v. Dy. CIT (2023)108 ITR 666 (Bang) (Trib)
S.37(1): Business expenditure-Trade samples-Assessing Officer to allow relief in event same income gets doubly taxed-Sales return-Not allowable-Expenditure incurred with reference to refurbishment of retail showroom-Allowable as revenue expenditure