2007 (9) TMI 631

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..... s Promotion expenses and the provisions of section 37(3A) of the Income-tax Act are not applicable? - HELD THA:- The admitted position is that in view of the decision of this Court in CIT v. High Blyma Labs (P.) Ltd., the question of law is required to be answered in the affirmative, in favour of the assessee and against the revenue. Thus, the reference is disposed of accordingly.
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..... AN B. LOKUR AND DR. S. MURALIDHAR, JJ. For the Appellant : J.R. Goel For the Respondent : H.C. Bhatia ORDER 1. For the assessment year 1980-81, the following question of law has been referred for our opinion :- "Whether on the facts and in the circumstances of the case, the ITAT was correct on the facts and in the law in holding the expenditure of ₹ 73,116 being the annual bonus pa .....

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