Sum received from seller to purchase a vehicle for promotion of its product isn’t taxable as business income

INCOME TAX : Where assessee worked as dealer/redistributor for companies CG and UI and incentive received by assessee from UI, specifically for purchase of van was not in nature of any benefit or perquisite which had arisen from business so as to treat value of same as business income of assessee in terms of section 28(iv), addition made by Assessing Officer under section 28(iv) was to be deleted

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000317166/sum-received-from-seller-to-purchase-a-vehicle-for-promotion-of-its-product-isn’t-taxable-as-business-income.aspx