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(Querist)
10 July 2009 Whether Advertising expenses can be recognised as intangible asset as per AS26 ?
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vinod kumar lalwani

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vinod kumar lalwani (Expert)
10 July 2009 hello!

para no. 56 of As 26 says that

sometimes it happens that co. may incures expenses but no intangible asset is created.

hence those expenses should be charged off to profit and loss account.

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