Disallowance of political advertising: payments for party publications are not deductible and advertisement deductions face statutory limits. Expenditure on advertisements in publications of political parties is not allowable from the operative assessment year; separately, deductions for advertisement, publicity and promotion are subject to a statutory ceiling. Advertisements in souvenirs by other institutions may be deductible only if laid out wholly and exclusively for business and if conditions of the advertisement rules are satisfied, with officers required to guard against payments which are donations in disguise or serve an oblique non business purpose, considering actual publication, timing and accounting treatment.
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.
Disallowance of political advertising: payments for party publications are not deductible and advertisement deductions face statutory limits.
Expenditure on advertisements in publications of political parties is not allowable from the operative assessment year; separately, deductions for advertisement, publicity and promotion are subject to a statutory ceiling. Advertisements in souvenirs by other institutions may be deductible only if laid out wholly and exclusively for business and if conditions of the advertisement rules are satisfied, with officers required to guard against payments which are donations in disguise or serve an oblique non business purpose, considering actual publication, timing and accounting treatment.
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 
