https://www.taxtmi.com/caselaws?id=306403 The ITAT allowed the Departmental appeal against the CIT(A)'s order for A.Y. 2011-2012, setting aside the deletion of additions made by the AO as benefit/perquisite u/s. 2(24)(iv) of the Income Tax Act. The matter was remanded to the AO for reconsideration based on a previous year's decision. The Cross-objection filed in support of CIT(A)'s order was dismissed as infructuous. This case emphasizes the necessity of establishing a connection between income received and tax liability, stressing the taxation of real income rather than notional amounts under the Income Tax Act. en-us Tue, 01 Jan 2019 00:00:00 +0530 Fri, 27 Jan 2023 20:17:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306403 The ITAT allowed the Departmental appeal against the CIT(A)'s order for A.Y. 2011-2012, setting aside the deletion of additions made by the AO as benefit/perquisite u/s. 2(24)(iv) of the Income Tax Act. The matter was remanded to the AO for reconsideration based on a previous year's decision. The Cross-objection filed in support of CIT(A)'s order was dismissed as infructuous. This case emphasizes the necessity of establishing a connection between income received and tax liability, stressing the taxation of real income rather than notional amounts under the Income Tax Act. Case-Laws Income Tax Tue, 01 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306403