1988 (11) TMI 65 - HC - Income Tax

Summary

The High Court of Bombay ruled that medical expenses reimbursed by the assessee to its employees should not be considered as 'perquisites' for tax purposes under section 40(a)(v) of the Income-tax Act, 1961. The decision was based on the court's previous ruling in CIT v. Indokem Pvt. Ltd. [1981] 132 ITR 125.