Sales promotion wasn’t works contract
Goods purchased for sales promotion wasn’t works contract just because buyer’s logo was pasted on it
IT : Claim of manufacturer-company being supported by factual evidences, claim of reduction from closing stock of packing material and finished goods was to be allowed
IT : Merely because for identification of company, logo of company was added on readymade gift articles purchased, relevant payment would not become work contract liable to TDS under section 194C
IT : Where in earlier years on similar facts, revenue accepted capitalisation of non-compete fees paid and allowed depreciation on same, in absence of any change in facts, depreciation was to be allowed on non-compete fees in current year also
IT : Complete details of foreign travel expenses by employees being produced, same was to be allowed
IT : Where web design charges, trademark expenses and survey expenses were incurred by company for facilitating its business and no new asset was acquired, such expenses were revenue in nature