The term “reimbursement” does not fall in the characteristics of ...

Income Tax

March 1, 2017

The term “reimbursement” does not fall in the characteristics of income. No doubt the definition of ‘income’ is inclusive. This, of course, does not mean that an amount which can, by no stretch of imagination, be called income can be treated as income and taxed as such by parliament. It must have some characteristics of income as broadly understood - AT

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The term “reimbursement” does not fall in the characteristics of ...

Income Tax

March 1, 2017

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