Income Tax:
The High Court rules that where assessee gave gifts and articles to various persons which had company’s official rubber stamp imprinted on them, there was an element of advertisement in distribution of said gifts and, thus, assessee’s claim for deduction of expenses incurred on distributing gifts was to be allowed.
Income Tax:
The Supreme Court uphelds right of deductor to claim interest on excess TDS deposited. The assessee is entitled to payment of interest for money remaining with the Government which would be refunded.
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