27 Jun Section 17(5)(h) explicitly restricts ITC towards the eg gift ideas, in the event he could be procured during furtherance out-of company

Income away from Set up Plots of land

“(xii) “gift” function this new transfer by the one person to another of every established moveable or immovable assets generated willingly and you will instead believe inside the currency otherwise money's-worth, .............”

The new promotion rewards was basically longer of the candidate on their own commonly willingly for granted within the money otherwise money's-worth into the achievement off a flat target with the retailers.