1984 (7) TMI 233 - AT - Income Tax

Summary

The Revenue's appeal against the AAC's order on advertisement expenditure was dismissed by ITAT MADRAS-D. The AAC held that the curbs on advertisement expenditure under sub-s. (3A) do not apply to the assessee due to the exception under sub-s. (3D) of s. 37. The assessee, engaged in film production, was considered to have set up an industrial undertaking exempt from the ceiling. The appeal was dismissed, confirming the AAC's decision. (Case Citation: 1984 (7) TMI 233 - ITAT MADRAS-D)