Section 2(24)(iv) ::


Last updated: 04 November 2007

Court :
HC

Brief :
Held by the Hon`ble Court that, interest free loan could not be said to be "income". Therefore interest free loan given by a company to its director`s wife is not taxable as income under the provisions of the Income-tax Act 1961.

Citation :
Prithivi Raj Singh Oberoi Vs. Income Tax Officer and Other

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