Income Tax Act Section 37(1): Avoid Double Taxation on Employee Benefits; CIT(A) Deletes Additions for Revenue Neutrality.

Income Tax Act Section 37(1): Avoid Double Taxation on Employee Benefits; CIT(A) Deletes Additions for Revenue Neutrality. https://www.taxtmi.com/highlights?id=49889 Deduction of expenses u/s 37(1) - employee’s benefit expense - tax revenue neutrality - if the income is being charged in the hands of the directors in the highest rate bracket taxing the same in the hands of the company would amount to double taxation - CIT(A) rightly deleted the additions. en-us Fri, 25 Oct 2019 08:08:29 +0530 Fri, 25 Oct 2019 08:08:29 +0530 TaxTMI RSS Generator Income Tax Act Section 37(1): Avoid Double Taxation on Employee Benefits; CIT(A) Deletes Additions for Revenue Neutrality. https://www.taxtmi.com/highlights?id=49889 Deduction of expenses u/s 37(1) - employee’s benefit expense - tax revenue neutrality - if the income is being charged in the hands of the directors in the highest rate bracket taxing the same in the hands of the company would amount to double taxation - CIT(A) rightly deleted the additions. Highlights Income Tax Fri, 25 Oct 2019 08:08:29 +0530 https://www.taxtmi.com/highlights?id=49889