MOTOR MACHINERUY TOOLS,PATNA vs. ACIT, CIRCLE-5, PATNA
In the result, the appeal filed by the assessee is partly allowed
ITA 39/PAT/2020[2011-12]Status: DisposedITAT Patna09 Sept 2021AY 2011-12
Bench: Shri P.M. Jagtap, Vice-(Kz)]
Section 250Section 28Section 43(1)
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I.T.A. No. 39/Pat/2020
Assessment Year: 2011-12
Motor Machinery Tools hands of the assessee and should be treated as business income as per section 28(iv) of the Indian Income Tax Act, 1961. Section 28(iv) reads as follows: "the value of any benefit or perquisite, whether convertible into money or not. arising from business or the exercise
