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2018 (4) TMI 1369 - HC - Income TaxPersonal expenses - whether can be taxed in the hands of assessee u/s 2(24)(iv) as the amount was routed through the franchisee, which was the HUF of the assessee? - Held that:- See case of Commissioner of Income-Tax, Chennai Vs.C.S.Srivatsan [2013 (3) TMI 248 - MADRAS HIGH COURT] as held the assessees have various avathars in various establishments - each of the unit has different composition. Each unit has varied number of members. Under such circumstances, the acceptability of the finding given by the Income Tax Appellate Tribunal has to be considered that the amounts paid by the company towards personal expenses of the assessee cannot be taxed in its hands under Section 2(24)(iv). - Decided in favour of assessee.
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