1989 (3) TMI 33 - HC - Income Tax

Summary

The High Court of Kerala ruled against the assessee in a tax case for the assessment year 1975-76. The court held that the assessee was not entitled to a deduction of Rs. 1,50,204 as it exceeded the permissible limit of 8-1/3% of employee salary. The decision was based on a previous ruling that incremental liability is not relevant under the Income-tax Act. The court answered the question referred in the negative, in favor of the Revenue.