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“It is a common practice for businesses to incur expenses towards gifts, free samples, promotional material, etc., on certain occasions like festivals and events, to promote their brand and grow their business … This ruling reaffirms the commonly understood principle that if an expenditure has been incurred for the furtherance of business interests, then it should be allowed as a deduction,”
Vikas Vasal
Partner, Grant Thornton India LLP
This article appeared in Economic Times on 06th March, 2019.
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