https://www.taxtmi.com/caselaws?id=25324 The High Court of Bombay ruled in favor of the assessee, holding that the expenditure on foreign trips of the assessee's minor daughters and a friend, funded by the company, should not be considered as the income of the assessee under section 2(24)(iv) of the Income-tax Act, 1961. The court relied on precedent and found that the mere fact that the company covered the expenses did not create a personal obligation for the assessee to bear them. The court's decision aligned with the interpretation established in a prior case, ultimately deciding against including the expenditure as the assessee's income. en-us Wed, 11 Mar 1987 00:00:00 +0530 Wed, 27 Jan 2010 18:47:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25324 The High Court of Bombay ruled in favor of the assessee, holding that the expenditure on foreign trips of the assessee's minor daughters and a friend, funded by the company, should not be considered as the income of the assessee under section 2(24)(iv) of the Income-tax Act, 1961. The court relied on precedent and found that the mere fact that the company covered the expenses did not create a personal obligation for the assessee to bear them. The court's decision aligned with the interpretation established in a prior case, ultimately deciding against including the expenditure as the assessee's income. Case-Laws Income Tax Wed, 11 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25324