https://www.taxtmi.com/circulars?id=9272 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. en-us Tue, 15 May 1979 00:00:00 +0530 Fri, 03 Jun 2011 16:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9272 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. Circulars Income Tax Tue, 15 May 1979 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9272