https://www.taxtmi.com/caselaws?id=68363 Compulsory statutory transfers of profits to a co-operative reserve fund are treated as deductible business outgoings where the amount ceases to remain available for the society's use. Deduction relating to profits from chemical fertilisers and pesticides requires fresh first-appellate consideration where the actual dispute was not adjudicated. Entertainment expenditure must be recomputed under the applicable slab-wise limits, taking account of business profits and an extended previous year. Gift expenses are not disallowable as advertisement or publicity expenditure unless the articles demonstrate a promotional purpose, such as bearing the business's logo or mark. en-us Tue, 13 Feb 2001 00:00:00 +0530 Tue, 29 Mar 2011 15:18:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68363 Compulsory statutory transfers of profits to a co-operative reserve fund are treated as deductible business outgoings where the amount ceases to remain available for the society's use. Deduction relating to profits from chemical fertilisers and pesticides requires fresh first-appellate consideration where the actual dispute was not adjudicated. Entertainment expenditure must be recomputed under the applicable slab-wise limits, taking account of business profits and an extended previous year. Gift expenses are not disallowable as advertisement or publicity expenditure unless the articles demonstrate a promotional purpose, such as bearing the business's logo or mark. Case-Laws Income Tax Tue, 13 Feb 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68363