https://www.taxtmi.com/caselaws?id=10162 The High Court ruled in favor of the Revenue and against the assessee regarding the classification of the assessee as an industrial company. The Court held that the assessee did not meet the criteria to be classified as an industrial company under the relevant provisions. However, the Court ruled in favor of the assessee and against the Revenue regarding the disallowance of expenditure for publicity purposes under section 37(3A) of the Income-tax Act, 1961. The Court concluded that the expenditure in question could not be disallowed under section 37(3A) based on the facts and circumstances of the case. en-us Mon, 26 Apr 2004 00:00:00 +0530 Thu, 09 Jul 2009 18:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10162 The High Court ruled in favor of the Revenue and against the assessee regarding the classification of the assessee as an industrial company. The Court held that the assessee did not meet the criteria to be classified as an industrial company under the relevant provisions. However, the Court ruled in favor of the assessee and against the Revenue regarding the disallowance of expenditure for publicity purposes under section 37(3A) of the Income-tax Act, 1961. The Court concluded that the expenditure in question could not be disallowed under section 37(3A) based on the facts and circumstances of the case. Case-Laws Income Tax Mon, 26 Apr 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10162