https://www.taxtmi.com/caselaws?id=216275 Royalty receipts and claimed reimbursement of advertisement expenses could not be assessed as undisclosed income under Chapter XIV-B because the transactions were genuine, already disclosed, and not shown by search material to be sham or concealed. The royalty arrangement had been disclosed to the Department and royalty payments had ceased after transfer of the trademark, while the reimbursement clause for advertisement expenses was contingent on demand and no actual receipt was proved. Any further adjustment, if at all, belonged in regular assessment proceedings, not block assessment. The appellate deletions were therefore sustained and no substantial question of law arose. en-us Tue, 28 Aug 2012 00:00:00 +0530 Tue, 04 Sep 2012 14:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216275 Royalty receipts and claimed reimbursement of advertisement expenses could not be assessed as undisclosed income under Chapter XIV-B because the transactions were genuine, already disclosed, and not shown by search material to be sham or concealed. The royalty arrangement had been disclosed to the Department and royalty payments had ceased after transfer of the trademark, while the reimbursement clause for advertisement expenses was contingent on demand and no actual receipt was proved. Any further adjustment, if at all, belonged in regular assessment proceedings, not block assessment. The appellate deletions were therefore sustained and no substantial question of law arose. Case-Laws Income Tax Tue, 28 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216275