ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Articles by Amaresh BagchiSubscribe to Amaresh Bagchi

Income Tax on Income-in-kind

Amaresh Bagchi Adoption of the net-flow-of-wealth definition of income is considered an unavoidable surrender to expediency, but serious distortions arise when departures are made even from this definition on grounds such as that receipt in kind is not income since barter is not sale. This paper briefly illustrates the nature of some of these distortions with reference to a few judicial decisions.

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