1989 (3) TMI 38 - HC - Income Tax

Summary

The High Court of Calcutta ruled in favor of the assessee regarding the expenses incurred for maintaining bungalows rented for employees' residence. The Tribunal held that the expenses did not result in providing any benefit to the employees as per section 40(c)(iii) of the Income-tax Act, 1961. The Appellate Assistant Commissioner's direction to exclude bungalow maintenance expenses for computation under section 40(c)(iii) was upheld. The Tribunal's decision was supported by valid reasons, and the question was answered in favor of the assessee. No costs were awarded.