https://www.taxtmi.com/caselaws?id=333382 The High Court ruled in favor of the Revenue, determining that the free distribution of exercise note books constituted advertisement. However, the Court sided with the applicant on the applicability of Section 37(3A), stating that only the net expenditure should be considered for disallowance. The issue of disallowance of deduction under Section 80I on interest income for the Assessment Year 1986-87 was not addressed as the applicant did not pursue it. en-us Mon, 03 Oct 2016 00:00:00 +0530 Wed, 12 Oct 2016 10:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333382 The High Court ruled in favor of the Revenue, determining that the free distribution of exercise note books constituted advertisement. However, the Court sided with the applicant on the applicability of Section 37(3A), stating that only the net expenditure should be considered for disallowance. The issue of disallowance of deduction under Section 80I on interest income for the Assessment Year 1986-87 was not addressed as the applicant did not pursue it. Case-Laws Income Tax Mon, 03 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333382