1982 (6) TMI 3 - HC - Income Tax

Summary

The High Court of Calcutta ruled in favor of the assessee in a reference under section 256(1) of the Income-tax Act, 1961. The court held that cash payments made by the assessee to reimburse employees for expenses did not result in any benefit, amenity, or perquisite. The decision was based on previous court rulings and principles. The judgment was agreed upon by both judges.