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2006 (7) TMI 127 - HC - Income TaxItems given as gift - Advertisement value - value of presentation articles - "Whether, value of presentation articles bearing the name of the appellant company, despite not being intended for distribution, for promoting or boosting the appellant's sales but for extending general courtesy to business associates has any advertisement value so as to suffer consequence of provision of rule 6B of the Income-tax Rules, 1962?" - leather articles, nylon bags, umbrella, glass jugs, etc., were provided as gift articles to the dignitaries. A mere name in the articles does not by itself convert the said gift articles as having any advertisement value in terms of the law governing tax in such matters. - authorities are not correct in disallowing this claim. - we deem it proper to answer this question in favour of the assessee.
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