1997 (11) TMI 23 - HC - Income Tax

Summary

The High Court of Madras considered a case where the Income-tax Appellate Tribunal ruled that monetary payments made by an assessee to employees for medical expenses did not constitute a benefit or perquisite under section 40A(5) of the Income-tax Act. The court upheld the Tribunal's decision based on a Supreme Court ruling, answering the question of law in favor of the assessee.