Addition u/s 28(iv) or 43(1) - Receipt of Special ...

Case Laws Income Tax

September 22, 2021

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. specifically for the purchase of van was not in the nature of any benefit or perquisite which had arisen from business so as to treat the value of the same as business income of the assessee in terms of Section 28(iv) - assessee that the case of the assessee is covered by Explanation 10 to Section 43(1) of the Act and not by Section 28(iv) of the Act. - Additions deleted - AT

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Addition u/s 28(iv) or 43(1) - Receipt of Special ...

Case Laws Income Tax

September 22, 2021

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