whether following exp. allowed under income tax?

This query is : Resolved

SUNIL ASHOK MANE (Querist)
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11 April 2018 Whether Gold purchased by a pvt. ltd. company for giving as gift to Main supplier or Customer allowed under income tax? please guid

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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11 April 2018 Can be claimed u/s 37(1).

Ps:- CBDT has issued a circular stating that any expense incurred in providing
freebies to medical practitioners by pharmaceutical companies in violation of
the provisions of the Indian Medical Council (Professional Conduct, Etiquette
and Ethics) Regulations, 2002 shall be inadmissible under Section 37(1) of the
Income Tax Act, being an expense prohibited by the law.