Commissioner Of Income-Tax vs Hyderabad Bottling Co. (P.) Ltd. on 21 September, 1999
9. Mr. M.M. Desai, learned counsel on behalf of the assessee, relying upon the judgment of the Andhra Pradesh High Court in the case of CIT v. Hyderabad Bottling Co. P. Ltd. [2000] 243 ITR 476 submitted that the benefit of Section 37(3D) is available to every new product even if the industrial undertaking manufacturing the said new product has been functioning for several years. He submitted that for marketing every new picture advertisements and publicity expenses are required to be incurred and for the production of every new picture additional investments are made on the capital equipment. According to him, Section 37(3D) applies to every new picture, irrespective of it being manufactured by an existing undertaking or by a newly set up undertaking. Accordingly, he submitted that the Tribunal was in error in holding that the exemption under Section 37(3D) of the Income-tax Act was not available to the assessee.