| COURT: | Bombay High Court |
| CORAM: | A. K. Menon J., S. C. Dharmadhikari J |
| SECTION(S): | 37(1) |
| GENRE: | International Tax |
| CATCH WORDS: | advertisement expenditure, commercial expediency |
| COUNSEL: | Porus Kaka |
| DATE: | October 13, 2014 (Date of pronouncement) |
| DATE: | October 14, 2014 (Date of publication) |
| AY: | 2005-06 |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| Advertisement expenditure incurred by agent to popularize the business of the channel run by the foreign principal is allowable as there is a direct business between the expenditure and the assessee's business as agent. The fact that the foreign principals also benefited does not entail right to deny deduction under section 37(1) | |
The main grounds on which the revenue has questioned the order of the tribunal are (a) non disclosure in form 3CEB of the fact that the principal is also a beneficiary of the advertising expenses; (b) that the advertising and …
CIT vs. N.G.C. Network (India) P. Ltd (Bombay High Court) Read More »
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