https://www.taxtmi.com/caselaws?id=166272 Audited books, without rejection or evidence of bogus purchases or suppressed sales, do not justify a notional addition for alleged excess raw material consumption; actual manufacturing facts, wastage and production conditions must govern the assessment, and any adjustment for contract manufacturing must be matched consistently where the same input-output approach is applied. Advertising and publicity expenditure that is revenue in nature and incurred wholly and exclusively for business remains deductible under section 37(1), and its allowability is not defeated merely because the amount was spread over more than one accounting year in the books. The Revenue's challenge failed and the assessee obtained substantive relief. en-us Tue, 31 Aug 2010 00:00:00 +0530 Tue, 09 Sep 2014 16:40:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=166272 Audited books, without rejection or evidence of bogus purchases or suppressed sales, do not justify a notional addition for alleged excess raw material consumption; actual manufacturing facts, wastage and production conditions must govern the assessment, and any adjustment for contract manufacturing must be matched consistently where the same input-output approach is applied. Advertising and publicity expenditure that is revenue in nature and incurred wholly and exclusively for business remains deductible under section 37(1), and its allowability is not defeated merely because the amount was spread over more than one accounting year in the books. The Revenue's challenge failed and the assessee obtained substantive relief. Case-Laws Income Tax Tue, 31 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=166272