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“Section 16(2)(iii)”

Section References (mined)Section 16Section 16(2)(iii)1 judgments

The decision most relied on for Section 16(2)(iii) is Hero Cycles Pvt. Ltd. v. CIT (379 ITR 347), cited in 361 judgments on BharatTax.

Leading authorities on Section 16(2)(iii)

Hero Cycles Pvt. Ltd. v. CIT
379 ITR 347 · 2015 · Supreme Court
361
citing judgments

The Revenue cannot substitute its judgment for that of a businessman regarding the necessity or reasonableness of an expenditure. If an expense is incurred wholly and exclusively for business purposes, it is deductible, and the Revenue cannot question its commercial expediency.

Judgments citing Section 16(2)(iii)

Yoshio Kubo vs. Commissioner of Income Tax

The appeals are disposed of accordingly

ITA - 441 / 2003HC Delhi31 Jul 2013

character of salary due, it is deemed to be such. The only deductions permissible from this class of income are those provided under Section 16(2)(iii). Section 17(4) inclusively brings within the sweep of ―salary‖ perquisites which is specifically defined under Section 17(2). 6. Learned counsel placed