Law:

Section:

Section 40(a)(v) of the Income-tax Act, 1961 - Business disallowance - Perquisites - Whether medical expenses reimbursed by assessee to four of its employees should be taken into account as perquisites for purpose of section 40(a)(v) - Held, no Facts The Tribunal held that the medical expenses reimbursed by the asses see to four of its employees should not be taken into account as 'perquisites' for the purpose of section 40(a)( v). On reference by the revenue: Held In view of the decision in the case of CIT v. Indokem (P.) Ltd. [1987] 132 ITR 125 (Bom.) , the order of the Tribunal was to be upheld. Case referred to CIT v. Indokem (P.) Ltd. [1981] 132 ITR 125 (Bom.). G.S. Jetley, K.C. Sidhwa and Mrs. M. Singh for the Applicant. Miss Shobha Chhabria for the Respondent. JUDGMENT Sugla,…

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