https://www.taxtmi.com/caselaws?id=168744 A payment received in virtue of an office is taxable as income where it accrues periodically and represents revenue receipt rather than capital, so the monthly allowance set apart for the Acharya's personal use was taxable. By contrast, benefits provided directly by the institution for residence, food, clothing and servants were not taxable in the assessee's hands because they were not money or money's worth and did not discharge any personal pecuniary obligation. The distinction drawn is between income arising from office and non-monetary institutional support, with taxability depending on whether the receipt can be treated as pecuniary income. en-us Wed, 16 Sep 1964 00:00:00 +0530 Wed, 25 Mar 2015 11:45:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168744 A payment received in virtue of an office is taxable as income where it accrues periodically and represents revenue receipt rather than capital, so the monthly allowance set apart for the Acharya's personal use was taxable. By contrast, benefits provided directly by the institution for residence, food, clothing and servants were not taxable in the assessee's hands because they were not money or money's worth and did not discharge any personal pecuniary obligation. The distinction drawn is between income arising from office and non-monetary institutional support, with taxability depending on whether the receipt can be treated as pecuniary income. Case-Laws Income Tax Wed, 16 Sep 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168744