https://www.taxtmi.com/caselaws?id=395302 The Tribunal dismissed the Revenue's appeal challenging the disallowance of advertisement expenditure, amounting to Rs. 2,06,37,597/- under section 37 of the I.T. Act, 1961. The Tribunal relied on previous judicial precedents and its own order in a similar case, emphasizing that advertisement expenditure does not confer enduring benefit and cannot be treated as an intangible asset. Consequently, the Tribunal concluded in favor of the assessee, affirming the decision of the lower authorities to allow the advertisement expenditure as revenue expenditure. en-us Tue, 01 Oct 2019 00:00:00 +0530 Fri, 15 May 2020 12:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395302 The Tribunal dismissed the Revenue's appeal challenging the disallowance of advertisement expenditure, amounting to Rs. 2,06,37,597/- under section 37 of the I.T. Act, 1961. The Tribunal relied on previous judicial precedents and its own order in a similar case, emphasizing that advertisement expenditure does not confer enduring benefit and cannot be treated as an intangible asset. Consequently, the Tribunal concluded in favor of the assessee, affirming the decision of the lower authorities to allow the advertisement expenditure as revenue expenditure. Case-Laws Income Tax Tue, 01 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395302