https://www.taxtmi.com/caselaws?id=23007 The High Court of Karnataka ruled that an established company cannot claim benefits as a new industrial undertaking under sections 37(3A) and 37(3D) of the Income-tax Act. The court emphasized that the exception in section 37(3D) is for newly established undertakings, and investing in machinery does not change an old company's status. As all authorities upheld the disallowance of advertisement expenditure, the court dismissed the petitioner's petition as no legal question for reference arose. en-us Mon, 20 Aug 1990 00:00:00 +0530 Wed, 16 Dec 2009 10:32:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23007 The High Court of Karnataka ruled that an established company cannot claim benefits as a new industrial undertaking under sections 37(3A) and 37(3D) of the Income-tax Act. The court emphasized that the exception in section 37(3D) is for newly established undertakings, and investing in machinery does not change an old company's status. As all authorities upheld the disallowance of advertisement expenditure, the court dismissed the petitioner's petition as no legal question for reference arose. Case-Laws Income Tax Mon, 20 Aug 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23007