Income Tax Act, 1961 – Section 37(1) – Deduction – Pharmaceutical companies’ gifting freebies to doctors, etc. is clearly “prohibited by law”, and not allowed to be claimed as a deduction under Section 37(1)
SUPREME COURT OF INDIA DIVISION BENCH M/S APEX LABORATORIES PRIVATE LIMITED — Appellant Vs. DEPUTY COMMISSIONER OF INCOME TAX, LARGE TAX PAYER UNIT – II — Respondent ( Before :…