Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Free Equipment from Group Companies Taxable as Perquisite u/s 28(iv): ITAT Upholds PCIT's Revision...
Income TaxOther Legal Matters
The ITAT has upheld a PCIT's revision, ruling that "free equipment from group companies is taxable as a perquisite," and has directed the AO to verify it on a returnable basis. The tribunal’s decision clarifies a contentious issue. The ruling reinforces the principle that any benefit provided by a company to its employees is to be taxed as a perquisite.
