https://www.taxtmi.com/caselaws?id=37535 The High Court of Himachal Pradesh held that the deduction of advertisement expenditure should be allowed under section 37(3) of the Income Tax Act without considering its nature as capital or revenue expenditure. The Court emphasized that section 37(3) provides a separate head of deduction for advertisement expenses, distinct from section 37(1). The matter was remanded to the Tribunal for reconsideration in line with the law, directing that advertisement expenditure be treated as such under section 37(3) without delving into its capital or revenue classification. en-us Thu, 01 Mar 1979 00:00:00 +0530 Tue, 30 Mar 2010 13:33:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37535 The High Court of Himachal Pradesh held that the deduction of advertisement expenditure should be allowed under section 37(3) of the Income Tax Act without considering its nature as capital or revenue expenditure. The Court emphasized that section 37(3) provides a separate head of deduction for advertisement expenses, distinct from section 37(1). The matter was remanded to the Tribunal for reconsideration in line with the law, directing that advertisement expenditure be treated as such under section 37(3) without delving into its capital or revenue classification. Case-Laws Income Tax Thu, 01 Mar 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37535