Court :
Income Tax Appellate Tribunal
Brief :
The ground raised by the assessee is that the Commissioner of Income Tax(Appeals) has erred in confirming that cash assistance is taxable in the hands of the assessee. It is the case of the assessee that the Commissioner of Income Tax(Appeals) himself has allowed the claim of the assessee for the earlier assessment year and he is taking inconsistent view as far as the impugned
assessment year is concerned. It is also the grievance of the assessee that the alternative plea that cash assistance is not to be taxed under the head “business” as it represented a capital asset which had no cost.
Citation :
M/s. S.P.G. Ramasamy Nadar & Sons,.....Appellant VS The Assistant Commissioner of Income Tax, Circle-I,.... Respondent
Subscribe to CCI PRO for unlimited access
Already a PRO member? Login here for an ad-free experience.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CAclubindia
