1983 (8) TMI 95 - AT - Income Tax

Summary

The appeal involved the inclusion of leave encashment, bonus, and perquisite valuation in the individual's income. The Tribunal ruled that the leave encashment was not taxable for the relevant assessment year as it did not accrue then. The bonus amount of Rs. 3,900 was considered a duplication and was deleted. The perquisite valuation was adjusted by adding Rs. 2,100. The levy of interest under section 139(8) was deemed consequential, and the appeal was allowed, directing the ITO to adjust the interest accordingly.