https://www.taxtmi.com/caselaws?id=56050 Jurisdiction under section 16(1)(a) of the Gift-tax Act was held not to be validly invoked because the relevant information was already available in the income-tax record, so the precondition for reopening was not satisfied. Expenditure on advertisements in souvenirs of political parties was treated as exempt under section 5(1)(xiv) because it was incurred in the course of business and bona fide for business purposes; disallowance under section 37(1) of the Income-tax Act did not control the gift-tax analysis, and the Board's circular was treated as clarificatory. The assessment order therefore did not survive, and relief followed on both the initiation issue and the exemption claim. en-us Mon, 19 Dec 1983 00:00:00 +0530 Wed, 01 Dec 2010 13:12:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56050 Jurisdiction under section 16(1)(a) of the Gift-tax Act was held not to be validly invoked because the relevant information was already available in the income-tax record, so the precondition for reopening was not satisfied. Expenditure on advertisements in souvenirs of political parties was treated as exempt under section 5(1)(xiv) because it was incurred in the course of business and bona fide for business purposes; disallowance under section 37(1) of the Income-tax Act did not control the gift-tax analysis, and the Board's circular was treated as clarificatory. The assessment order therefore did not survive, and relief followed on both the initiation issue and the exemption claim. Case-Laws Income Tax Mon, 19 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56050