Dismissing the appeal of the revenue the Court held that the Board\u2019s Circular No. 5 of 2012, dated August 1, 2012 (2012) 346 ITR 95 (St)\u00a0 could not have been applied retrospectively to the assessment year 2010-11. The circular imposed a new kind of imparity and therefore, the Tribunal had consistently held that the Board\u2019s Circular No. 5 of 2012 would not have any retrospective effect but would operate prospectively from August 1, 2012. These decisions of the Tribunal were not assailed before the High Court. The Tribunal was justified in deleting the\u00a0 expenses in providing free gifts facilities to Medical\u00a0 Practitioners. (AY.2010-11)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 37(1) : Business expenditure-Expenses in providing free gifts Facilities to Medical Practitioners-Allowable as deduction-Expenses prohibited by law-Oppressive circulars would have prospective application.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-26659","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-6VZ","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/26659","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=26659"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/26659\/revisions"}],"predecessor-version":[{"id":29085,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/26659\/revisions\/29085"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=26659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=26659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=26659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}