1989 (10) TMI 27 - HC - Income Tax

Summary

The High Court of Kerala upheld the decision of the Appellate Tribunal regarding the treatment of expenditure and depreciation as perquisite under section 40A(5) of the Income-tax Act. The court rejected the petitions to refer the questions of law to the court, stating that the Tribunal's decision was in accordance with the Full Bench decision of the court. The petitions were declined, and the decision of the Appellate Tribunal was deemed correct.