1989 (10) TMI 27

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..... r section 256(2) of the Income-tax Act, the question that arises for consideration is whether the Appellate Tribunal was justified in holding that the expenditure incurred by the assessees and the depreciation allowance therefor should be treated as perquisite in the computation of disallowance under section 40A(5) of the Income-tax Act. In the first three Original Petitions Nos. 4532, 4534 and 45 .....

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..... l. It is agreed that the disallowance made by the Income-tax Officer in exercise of the powers under section 40A(5) of the Act is in accord with the Full Bench decision of this court in CIT v. Forbes, Ewart and Figgis (P.) Ltd. [1982] 138-ITR 1. Counsel for the assessees contended that the Honourable Supreme Court of India has granted leave to appeal against the judgment of this court, in Forbes, .....

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