Films produced for advertisement purposes are not stock-in-trade in the hands of the advertisers.

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..... ctober 15, 1973 Section(s) Referred: 37 Statute: Income - Tax Act, 1961 The Board has recently considered the question relating to the treatment of the cost of advertisement films produced for pub .....

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..... oard is, therefore, of the view that any expenditure incurred on making an advertisement film by a person carrying on a business will be admissible as deduction u/s 37 of the Income-tax Act, 1961 to t .....

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