1990 (3) TMI 105 - AT - Income Tax

Summary

The ITAT Bombay-E allowed the appeal of the assessee for asst. yr. 1984-85, holding that the sum of Rs. 16,000 received from a Welfare Trust for purchasing a deep freezer is not taxable as a perquisite under s. 17(2)(iv) of the IT Act. The Tribunal deleted the addition of Rs. 16,000 as salary income of the assessee, based on the finding that the reimbursement by the trust was a capital receipt and not a perquisite. The appeal was allowed.