1990 (8) TMI 94

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.... URS J.-This petition under section 256(2) of the Income-tax Act, 1961, is filed by the assessee aggrieved by the order of the assessing authority, affirmed by the first appellate authority as well as the Tribunal and, having failed to obtain a reference by the Tribunal of the questions of law which arise for consideration as follows : "(1) Whether, on the facts and in the circumstances of the ....

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....otal allowance of the amount spent on advertisements of a new product of the assessee-company known as "Torino" in the light of having stopped the production of the earlier beverages under the brand names "Cocoa cola" and "Fanta". The amount spent on advertisements is subject to permissible deduction as expenditure in terms of section 37(3A) of the Income-tax Act (hereinafter referred to as "the A....

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....l apply in respect of any expenditure on advertisement, publicity or sales promotion 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." clearly indicates that the exception in sub-section (3D) fr....