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“Section 2(24)(i)(vi)”

Section References (mined)Section 2Section 2(24)(i)(vi)4 judgments

The decision most relied on for Section 2(24)(i)(vi) is CIT v. Rajan Nanda (349 ITR 8), cited in 21 judgments on BharatTax.

Leading authorities on Section 2(24)(i)(vi)

CIT v. Rajan Nanda
349 ITR 8 · 2012 · High Court
21
citing judgments

An insurance policy assigned by an employer to an employee loses its character as a keyman insurance policy and becomes an ordinary life insurance policy, with tax implications determined by its status at the time of assignment.

Dr. George Thomas K v. CIT
156 ITR 412 · 1985 · Supreme Court
16
citing judgments

The burden is on the revenue to establish that a receipt is of a revenue nature. Once a receipt is found to be of revenue character, the onus shifts to the assessee to prove it falls under an exemption.

Judgments citing Section 2(24)(i)(vi)

Roop Kumar Bansal, Gurgaon vs. Pr, CIT (Central), Gurgaon

In the result, ITA.No.383/Del

ITA 386/DEL/2021[2017-18]Status: DisposedITAT Delhi31 May 2021AY 2017-18

Bench: Shri Bhavnesh Saini & Shri O.P.Kant

For Appellant: And Shri Lalit Mohan, C.AFor Respondent: Shri Satpal Gulati, CIT-DR
Section 132Section 139(1)Section 142(1)Section 143(2)Section 143(3)Section 153B(1)(b)Section 263

matter. Issue No.4 is decided in favour of the assessee. ISSUE No.5 – Whether compensation received by assessee is taxable as income under section 2(24)(i)(vi) and (iv) of the Income Tax Act, 1961 OR under section 2(28A) of the Income Tax Act, 1961 ? 16. The Learned PCIT ... show cause notice has referred to Section 2(24)(i)(vi) of the Income Tax Act to 123 ITA.Nos.383, 384, 385 & 386/Del./2021 Smt. Abha Bansal, Sh Pankaj Bansal, Sh Basant Bansal And Sh Roop Kumar Bansal, Gurgaon. propose that compensation is taxable as revenue/income and ultimately taken

Shri Basant Bansal, Gurgaon vs. Pr, CIT (Central), Gurgaon

In the result, ITA.No.383/Del

ITA 385/DEL/2021[2017-18]Status: DisposedITAT Delhi31 May 2021AY 2017-18

Bench: Shri Bhavnesh Saini & Shri O.P.Kant

For Appellant: And Shri Lalit Mohan, C.AFor Respondent: Shri Satpal Gulati, CIT-DR
Section 132Section 139(1)Section 142(1)Section 143(2)Section 143(3)Section 153B(1)(b)Section 263

matter. Issue No.4 is decided in favour of the assessee. ISSUE No.5 – Whether compensation received by assessee is taxable as income under section 2(24)(i)(vi) and (iv) of the Income Tax Act, 1961 OR under section 2(28A) of the Income Tax Act, 1961 ? 16. The Learned PCIT ... show cause notice has referred to Section 2(24)(i)(vi) of the Income Tax Act to 123 ITA.Nos.383, 384, 385 & 386/Del./2021 Smt. Abha Bansal, Sh Pankaj Bansal, Sh Basant Bansal And Sh Roop Kumar Bansal, Gurgaon. propose that compensation is taxable as revenue/income and ultimately taken

Pankaj Bansal, Gurgaon vs. Pr, CIT (Central), Gurgaon

In the result, ITA.No.383/Del

ITA 384/DEL/2021[2017-18]Status: DisposedITAT Delhi31 May 2021AY 2017-18

Bench: Shri Bhavnesh Saini & Shri O.P.Kant

For Appellant: And Shri Lalit Mohan, C.AFor Respondent: Shri Satpal Gulati, CIT-DR
Section 132Section 139(1)Section 142(1)Section 143(2)Section 143(3)Section 153B(1)(b)Section 263

matter. Issue No.4 is decided in favour of the assessee. ISSUE No.5 – Whether compensation received by assessee is taxable as income under section 2(24)(i)(vi) and (iv) of the Income Tax Act, 1961 OR under section 2(28A) of the Income Tax Act, 1961 ? 16. The Learned PCIT ... show cause notice has referred to Section 2(24)(i)(vi) of the Income Tax Act to 123 ITA.Nos.383, 384, 385 & 386/Del./2021 Smt. Abha Bansal, Sh Pankaj Bansal, Sh Basant Bansal And Sh Roop Kumar Bansal, Gurgaon. propose that compensation is taxable as revenue/income and ultimately taken

Abha Bansal, Gurgaon vs. PCIT, Central, Gurgaon

In the result, ITA.No.383/Del

ITA 383/DEL/2021[2017-18]Status: DisposedITAT Delhi31 May 2021AY 2017-18

Bench: Shri Bhavnesh Saini & Shri O.P.Kant

For Appellant: And Shri Lalit Mohan, C.AFor Respondent: Shri Satpal Gulati, CIT-DR
Section 132Section 139(1)Section 142(1)Section 143(2)Section 143(3)Section 153B(1)(b)Section 263

matter. Issue No.4 is decided in favour of the assessee. ISSUE No.5 – Whether compensation received by assessee is taxable as income under section 2(24)(i)(vi) and (iv) of the Income Tax Act, 1961 OR under section 2(28A) of the Income Tax Act, 1961 ? 16. The Learned PCIT ... show cause notice has referred to Section 2(24)(i)(vi) of the Income Tax Act to 123 ITA.Nos.383, 384, 385 & 386/Del./2021 Smt. Abha Bansal, Sh Pankaj Bansal, Sh Basant Bansal And Sh Roop Kumar Bansal, Gurgaon. propose that compensation is taxable as revenue/income and ultimately taken