Personal expenses - whether can be taxed in the hands of ...

Court Rules HUF Personal Expenses Not Taxable to Assessee u/s 2(24)(iv) of Income Tax Act.

April 26, 2018

Case Laws Income Tax HC

Personal expenses - whether can be taxed in the hands of assessee u/s 2(24)(iv) as the amount was routed through the franchisee, which was the HUF of the assessee? - Held No - HC

View Source

← Previous Next →

Personal expenses - whether can be taxed in the hands of ...

Court Rules HUF Personal Expenses Not Taxable to Assessee u/s 2(24)(iv) of Income Tax Act.

April 26, 2018

Case Laws Income Tax HC

You may also like:

Personal expenses - whether can be taxed in the hands of assessee u/s 2 (24)(iv) as the amount was routed through the franchisee, which was the HUF of the assessee -...

ITAT ruled against double taxation of personal credit card expenses initially disallowed under s.37(1) in company's returns. Where company had already acknowledged...

The High Court addressed the issue of whether "power sprayers" fall under Schedule-I of the Rajasthan Value Added Tax Act, taxable at 4%, or under Schedule-IV at a...

Impugned show cause notice for shortfall in service tax payment based on Rule 5(1) of Service Tax (Determination of Value) Rules, 2006 quashed as ultra vires Section 67...

The High Court examined the jurisdiction of the Assessing Officer (AO) and the prescribed income-tax authority to issue notices u/s 143(2) of the Income Tax Act. It held...

Foreign tax credit claimed under Article 24 of India- UK DTAA read with Section 90 - assessee who is a resident of India and has derived from salary which has suffered...

The ITAT held that interest received on enhanced compensation for compulsory acquisition of land u/s 28 of the Land Acquisition Act, 1894 is taxable as 'Income from...

The assessee had been following the mercantile system of accounting, wherein book profits are taken for tax assessment, though credit or debit amounts may not be...

The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

Interest received on enhanced compensation u/s 56(2)(viii) is taxable as income from other sources and not under capital gains. The Punjab & Haryana High Court's...

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...

Reverse Charge (RCM) - Constitutional validity of the provision of sub-Clause (iv) of Rule 2 (1)(d) of Service Tax Rules, 1994 - Period from 2002-03 to 2004-05 - Rule 2...

Accrual of income u/s 2(24) - Scope of Amendment to Section 2(24) by the insertion of sub-cause (xviii) - taxability of incentives given by the Government - the...

Income from house property - Income received on leasing of land and building - the assessee had correctly shown the said income under the head “income from house...

Additions (Benefit) u/s 28(iv) - Expenditure incurred by the HO for salary paid to the expatriate employees for rendering services to PE - The tribunal upheld the...

Quick Updates: