Section 2(24)(iv)
Last updated: 25 July 2008
Court :
Brief :
Citation :
Prithivi Raj Singh Oberoi Vs. Income Tax Officer and Other
Decision:
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
CA. A. Kumar
Published in Income Tax
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