2011 (7) TMI 1164

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..... the Assessment Year 2005 -06 had reflected expenditure of ₹ 6,38,01,509/- incurred on advertisement and publicity of its brand namely 'swatch' for promotion of its business. It is an admitted case that Assessee Company operates in the medium and high end luxury watch segments in India. The expenditure was incurred by the assessee on sponsorship of the events, newspaper/magazine/electronic me .....

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..... expenditure. The Revenue filed an appeal against this order of CIT(A) which has been dismissed by the Tribunal vide the impugned order dated 30th November 2010. The Tribunal has also referred to the decision rendered by the Special Bench of ITAT in the case of ACIT, Ahmedabad v Ashima Synthetic Ltd (citation not given in the impugned order). In the said decision, the Special Bench of the Tribuna .....

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