Law
The issue in this case is whether the reward ticket is part of the assessable income of the taxpayer.
The Court ruled that the decision- reward tickets did not constitute assessable income under either: Section 25(1) of the Income Tax Assessment Act of 1936 and cannot be convertible into money. Thus, the monetary value of the ticket cannot not be considered as income within the definition of Section 25(1); or Section 26(e) since the reward ticket was a result of a personal contractual privilege of Payne, it cannot be included as benefit that is “allowed, given or ...