https://www.taxtmi.com/caselaws?id=70455 The Tribunal upheld the taxability of the amount received under the Suiting Incentive Scheme by a registered firm, ruling it as a reward for business activity rather than a casual gift. The Tribunal differentiated the case from precedents where similar receipts were held exempt, emphasizing the foreseeability of the gift due to business transactions. The amount of Rs. 50,000 was deemed taxable under section 28 of the Income-tax Act, as it was obtained through exceeding specific purchase targets under the scheme, affirming the dismissal of the assessee's appeal. en-us Fri, 27 Sep 1985 00:00:00 +0530 Sat, 16 Apr 2011 12:46:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70455 The Tribunal upheld the taxability of the amount received under the Suiting Incentive Scheme by a registered firm, ruling it as a reward for business activity rather than a casual gift. The Tribunal differentiated the case from precedents where similar receipts were held exempt, emphasizing the foreseeability of the gift due to business transactions. The amount of Rs. 50,000 was deemed taxable under section 28 of the Income-tax Act, as it was obtained through exceeding specific purchase targets under the scheme, affirming the dismissal of the assessee's appeal. Case-Laws Income Tax Fri, 27 Sep 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70455