Advertisement in souvenirs deductible where wholly and exclusively for business; disguised donations not allowable but may qualify under charitable relief. Expenditure on advertisements in souvenirs is admissible as a business deduction if laid out wholly and exclusively for business and the prescribed conditions for advertising allowance are satisfied; souvenirs constitute recognised publicity media and multiple insertions are permissible. Payments that are in substance donations rather than genuine advertisement expenses are not allowable as business deductions but may be eligible for charitable donation relief if they meet the relevant conditions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Advertisement in souvenirs deductible where wholly and exclusively for business; disguised donations not allowable but may qualify under charitable relief.
Expenditure on advertisements in souvenirs is admissible as a business deduction if laid out wholly and exclusively for business and the prescribed conditions for advertising allowance are satisfied; souvenirs constitute recognised publicity media and multiple insertions are permissible. Payments that are in substance donations rather than genuine advertisement expenses are not allowable as business deductions but may be eligible for charitable donation relief if they meet the relevant conditions.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
