https://www.taxtmi.com/caselaws?id=57446 Section 2(24)(iv) taxes only a benefit or perquisite actually obtained by the assessee from the company, so a loan routed through relatives was not taxable as income merely because it was credited in the assessee's books. The write-off of the relatives' debts also could not be assessed in the assessee's hands, because any benefit arose to the relatives and, in any event, after the close of the relevant previous year. On that reasoning, the addition was deleted and the tax treatment failed in the assessee's hands. en-us Mon, 30 Apr 1990 00:00:00 +0530 Sun, 06 Feb 2011 03:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57446 Section 2(24)(iv) taxes only a benefit or perquisite actually obtained by the assessee from the company, so a loan routed through relatives was not taxable as income merely because it was credited in the assessee's books. The write-off of the relatives' debts also could not be assessed in the assessee's hands, because any benefit arose to the relatives and, in any event, after the close of the relevant previous year. On that reasoning, the addition was deleted and the tax treatment failed in the assessee's hands. Case-Laws Income Tax Mon, 30 Apr 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57446