https://www.taxtmi.com/caselaws?id=70619 The advertisement expenditure ceiling under section 37(3A) did not apply where the assessee had set up an industrial undertaking for the manufacture of films and commenced manufacture in the relevant previous year. The expression "industrial undertaking" was read as a business activity or enterprise engaged in manufacture or production, not necessarily a separate factory or identifiable asset. On that basis, the statutory exception in section 37(3D) applied from the year manufacture began and for the two immediately preceding previous years, so the restriction on advertisement expenditure could not be invoked. en-us Tue, 03 Jul 1984 00:00:00 +0530 Mon, 18 Apr 2011 11:36:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70619 The advertisement expenditure ceiling under section 37(3A) did not apply where the assessee had set up an industrial undertaking for the manufacture of films and commenced manufacture in the relevant previous year. The expression "industrial undertaking" was read as a business activity or enterprise engaged in manufacture or production, not necessarily a separate factory or identifiable asset. On that basis, the statutory exception in section 37(3D) applied from the year manufacture began and for the two immediately preceding previous years, so the restriction on advertisement expenditure could not be invoked. Case-Laws Income Tax Tue, 03 Jul 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70619