2001 (6) TMI 26

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he assessee-company was incorporated on May 5, 1977, for the purpose of taking over the business which was being run by an American company, Chesebrough Ponds Inc. The American company had been carrying on business in India by manufacturing and marketing cosmetic products. That same business was continued by the assessee with the aid of plant and machinery that had been owned by the American co....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....sub-section (3A) shall apply in respect of any expenditure on advertisement, publicity or sales pro motion incurred by the assessee, for the purposes of the business of such undertaking, in the previous year in which such undertaking begins to manufacture or produce such articles and each of the two previous years immediately succeeding that previous year." The section refers to an assessee who....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he same, as in this case, and expenditure was being incurred on publicity for that product for several years prior to the formation of the assessee-company which had continued the business that had already been set up, it cannot be said that the assessee had "set up" an industrial undertaking. The words 'set up' in the context in which they are used refer to an industrial undertaking which commenc....