Payments for vesting of management in government treated as taxable income under amended Section 28 provision. An amendment adds sub clause (d) to clause (ii) of Section 28 to include payments to any person for, or in connection with, the vesting in the Government or in a Government owned or controlled corporation of the management of any property or business; the insertion is deemed effective from 1st April, 1972 and brings such payments within the section's assessable receipts.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Payments for vesting of management in government treated as taxable income under amended Section 28 provision.
An amendment adds sub clause (d) to clause (ii) of Section 28 to include payments to any person for, or in connection with, the vesting in the Government or in a Government owned or controlled corporation of the management of any property or business; the insertion is deemed effective from 1st April, 1972 and brings such payments within the section's assessable receipts.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
