https://www.taxtmi.com/caselaws?id=22799 HC held that expenditure on advertisement in souvenirs is deductible under s.37, relying on CBDT Circular No. 200, which equates such expenses with other business advertisements and is binding on the tax authorities under s.119. The Revenue's contention that the souvenir advertisements did not serve business purpose was rejected in view of the circular. On depreciation, HC held that s.37(4), being a non obstante clause only vis-à-vis s.37(1) and (3), cannot override or restrict allowances otherwise admissible under other provisions, including depreciation. Accordingly, the assessee was held entitled to depreciation on the property used as a guest house, and both issues were decided in its favour. en-us Thu, 25 Apr 1991 00:00:00 +0530 Mon, 08 Dec 2025 14:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22799 HC held that expenditure on advertisement in souvenirs is deductible under s.37, relying on CBDT Circular No. 200, which equates such expenses with other business advertisements and is binding on the tax authorities under s.119. The Revenue's contention that the souvenir advertisements did not serve business purpose was rejected in view of the circular. On depreciation, HC held that s.37(4), being a non obstante clause only vis-à-vis s.37(1) and (3), cannot override or restrict allowances otherwise admissible under other provisions, including depreciation. Accordingly, the assessee was held entitled to depreciation on the property used as a guest house, and both issues were decided in its favour. Case-Laws Income Tax Thu, 25 Apr 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22799