Dismissing the appeal of the revenue the Court held that the Tribunal while accepting the plea of the assessee had held that the expenses incurred by the assessee were revenue in nature and the entire amount was admissible in the year in which it was incurred Referred , Madras Industrial Investment Corporation Ltd. v. CIT (1997) 91 Taxman 340 (SC). (AY .2001-02 2002-03)
CIT v. Godrej Foods Ltd. (2020) 193 DTR 212 / (2021) 318 CTR 506 (MP)(HC)
S. 37(1) : Business expenditure – Deferred revenue expenditure – Advertisement publicity and sales promotion – Allowable in the year it was incurred .