1982 (10) TMI 66

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....which the relevant previous year ended on 31-3-1973. 2. The only ground taken in the appeal is that the AAC erred in holding that a sum of Rs. 56,500 received by the assessee by way of reward from Customs Department is taxable. 3. The assessee received a sum of Rs. 22,500 on 20-7-1972 and Rs. 34,000 on 30-6-1972, totalling Rs. 56,500, as reward from customs authorities. The assessee claimed ....

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....The order in this behalf was issued by the Central Government only on 19-9-1975. It was stated in the order that the Central Government approves for the purpose of clause (17B) of section 10, the grant of awards in cash by the Central Government to persons who furnish to the Income-tax Department or the Central Excise and Customs Department information of tax evasion. The assessee now claims that ....

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....s granted by the Customs Department was issued only on 19-9-1975 is immaterial, and that the order will also have retrospective effect with effect from 1-4-1973. 5. We are unable to accept contention. The assessee cannot claim exemption merely because clause (17B) was placed on the statute book with effect from 1-4-1973. Exemption can be claimed only on the basis of an order issued by the Centr....