https://www.taxtmi.com/caselaws?id=13161 The High Court of Madras ruled against the assessee company's claim for exemption under section 37(3D) of the Income-tax Act, 1961. The court emphasized the importance of establishing an industrial undertaking within the specified period to qualify for the exemption on advertisement, publicity, and sales promotion expenses. The court held that the company did not meet the criteria as it did not "set up" the industrial undertaking within the meaning of the provision, ultimately favoring the Revenue and denying the exemption claim. en-us Thu, 28 Jun 2001 00:00:00 +0530 Tue, 26 May 2009 17:21:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13161 The High Court of Madras ruled against the assessee company's claim for exemption under section 37(3D) of the Income-tax Act, 1961. The court emphasized the importance of establishing an industrial undertaking within the specified period to qualify for the exemption on advertisement, publicity, and sales promotion expenses. The court held that the company did not meet the criteria as it did not "set up" the industrial undertaking within the meaning of the provision, ultimately favoring the Revenue and denying the exemption claim. Case-Laws Income Tax Thu, 28 Jun 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13161