https://www.taxtmi.com/caselaws?id=181348 Expenditure on gift articles presented to chit subscribers at the time of joining the scheme and on conclusion of the chit was treated as sales promotion expenditure within the scope of section 37(3A) of the Income-tax Act, 1961. The High Court followed its earlier decision in the same assessee's case for a prior assessment year, where identical gift-related expenditure had been held subject to the statutory ceiling. Accordingly, such expenditure was not excluded from the restriction and remained covered by the sales promotion limit. en-us Thu, 12 Dec 2002 00:00:00 +0530 Thu, 14 Apr 2016 10:46:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181348 Expenditure on gift articles presented to chit subscribers at the time of joining the scheme and on conclusion of the chit was treated as sales promotion expenditure within the scope of section 37(3A) of the Income-tax Act, 1961. The High Court followed its earlier decision in the same assessee's case for a prior assessment year, where identical gift-related expenditure had been held subject to the statutory ceiling. Accordingly, such expenditure was not excluded from the restriction and remained covered by the sales promotion limit. Case-Laws Income Tax Thu, 12 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181348