Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights May 2017 Year 2017 This

Taxability of benefit or perquisite received from customers - ...

Case Laws     Income Tax

May 17, 2017

Taxability of benefit or perquisite received from customers - section 28(iv) would not apply when the amount received is cash or is considered in terms of money - the phrase "whether convertible into money or not" would normally mean something else than money - AT

View Source

 


 

You may also like:

  1. The case pertains to the taxability of a reserve arising from an amalgamation u/s 28(iv) and Section 56(2)(x)(c) of the Income Tax Act. The key points are: The appointed...

  2. Business profit - benefits and perquisites in cash - the apex courts have interpreted that if the benefit or perquisite are in cash, it is not covered within the scope...

  3. Additions of benefits or perquisites received as business income - waiver of loan u/s 28(iv) - the assessee had purchased the equipment, for which assessee had not paid....

  4. Addition u/s 28(iv) or 43(1) - Receipt of Special Redistributors' Incentive - The amount of incentive received by the assessee from M/s. Usha International Ltd....

  5. Perquisite or Benefit u/s 28(iv) - Addition for a discount on buy-back of Foreign Currency Convertible Bonds (FCCB) - the benefit has been received in the shape of the...

  6. Taxability of income as a perquisite - waiver of loan by creditor - Section 28(iv) of the IT Act does not apply on the present case since the receipts are in the nature...

  7. Additions u/s 28(iv) - Business perquisite - ECB loan as received from the holding company by the assessee in convertible foreign exchange for the purpose of acquiring...

  8. Addition on account of benefit/perquisite u/s 2(24)(iv) - the interest free advance/loan to assessee from AHS also does not attract provisions of section 2(24)(iv) of...

  9. Cash Credit - The provisions of the section 28 (iv) can be invoked if the benefit or perquisite is not in form of cash. It cannot be said that the loan received by the...

  10. Taxability of the amount received by the assessee from his HUF, in which he is a coparcener - money received without consideration -Taxability of gift received by the...

  11. Business perquisite - the perquisites of business are taxable under clause (iv) of Section 28 of the Act, which contemplates that the value of any benefit or perquisite - HC

  12. Taxability of an amount received from supply of drawings and designs - Accrual of income in India - Once the income from supply of plant and equipment is held to be not...

  13. Deemed dividend u/s 2(22)(a) - perquisite u/s 2(24)(iv) - CIT(A) is not justified to hold that it is perquisite benefit given by HPPL to its shareholder and not the...

  14. Nature of rent received from the company - benefit or perquisite or rent itself - Section 2(24)(iv) of the Act will normally come into play only when the company in...

  15. The compensation received by the petitioner for diminution in value of ESOPs is a perquisite taxable under the Income-tax Act, 1961, not a capital receipt. To determine...

 

Quick Updates:Latest Updates