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TMI Blog2000 (2) TMI 44X X X X Extracts X X X X X X X X Extracts X X X X ..... e been raised by the Department in appeal : (i) Whether the assessee has proved that the presentation articles did not possess advertisement value and, therefore, it was entitled to claim deduction in respect of cost of such articles ? (ii) Whether the assessee was entitled to deduction in respect of secret commission paid by it ? The facts giving rise to this appeal are as follows : The a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... td. [1995] 216 ITR 690 in the case of Indian Rayon Corporation Ltd. v. CIT [1998] 231 ITR 26 (Bom), this court took the view that the onus was on the assessee to prove that the gift articles did not carry any advertisement value. Hence, it would depend on the facts of each case as to whether the gift articles had any advertisement value. In the present matter, there is nothing to show that the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to section 37 which was incorporated by the Finance (No. 2) Act, 1998, with retrospective effect from April 1, 1962, was not there. One cannot lose sight of the fact that the Legislature clearly intended to disallow such claims with retrospective effect, i.e., from April 1, 1962. Under the circumstances, reliance could not have been placed on the orders passed in favour of the assessee in the pas ..... X X X X Extracts X X X X X X X X Extracts X X X X
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