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2016 (4) TMI 159 - AT - Income TaxBrand promotion expenses - expenses considered by the Assessing Officer as expenditure, which granted benefits of enduring nature and which called for allowance over a period of five years - Held that:- As in the case of assessee itself for the assessment year 2001-02 in the identical facts and circumstances, has decided the similar issue in favour of the assessee wherein held the concept of deferred revenue expenditure is not known under the Income-tax Act. The expenditure can be either capital expenditure or revenue expenditure. If the expenditure is revenue in nature and claimed u/s. 37, the same is allowable in whole and cannot be spread over number of years. Admittedly, the advertisement and publicity expenses are revenue expenses. Admittedly, the advertisement and publicity expenses are revenue expenses. No new asset is created by incurring the expenses. It is also not the case of the AO that the expenses are capital expenditure. The finding of the learned CIT(A) that the expenditure are wholly and exclusively for the purpose of business and which is not challenged in appeal. We, therefore, confirm the deletion of disallowance - Decided against revenue
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