https://www.taxtmi.com/caselaws?id=6498 A company's spending on the personal necessities of an individual with beneficial ownership of shares carrying not less than twenty per cent of the voting power was taxable as income under section 2(6C)(iii) of the Indian Income-tax Act, 1922. The expression "concerned in the management of the business" was held to be wide enough to cover not only formal directors or employees, but also a person who directly or indirectly controls the company's management, including control exercised through managerial staff or behind the scenes. On the facts stated, the individual's admitted control brought him within the provision, so the amount constituted income. en-us Wed, 19 Jan 1977 00:00:00 +0530 Wed, 10 Jul 2019 13:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6498 A company's spending on the personal necessities of an individual with beneficial ownership of shares carrying not less than twenty per cent of the voting power was taxable as income under section 2(6C)(iii) of the Indian Income-tax Act, 1922. The expression "concerned in the management of the business" was held to be wide enough to cover not only formal directors or employees, but also a person who directly or indirectly controls the company's management, including control exercised through managerial staff or behind the scenes. On the facts stated, the individual's admitted control brought him within the provision, so the amount constituted income. Case-Laws Income Tax Wed, 19 Jan 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6498