1995 (8) TMI 12 - HC - Income Tax

Summary

The High Court dismissed the petition under section 256(2) of the Income-tax Act, 1961, regarding the treatment of medical reimbursement and insurance premium as perquisites for computing disallowances under section 40(c) of the Act. The court held that cash allowance for medical expenses is not a perquisite based on previous decisions, including CIT v. Shriram Refrigeration Industries Ltd. The petition was dismissed as the question raised was considered academic.