Dismissing the appeal of the revenue the Court held that ; the Tribunal was right in holding that the amounts paid by the company towards personal expenses of the assessee could not be taxed in his hands under S. 2(24)(iv) of the Act, as the amount was routed through the franchisee, which was the Hindu undivided family of the assessee ( AY.2002-03)
CIT v. C. S. Seshadri. (2018) 404 ITR 191 (Mad) (HC)
S.2(24)(iv): Business Income —Amount paid by company towards personal expenses of assessee is held to be not taxable.