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of <h1>Company Payments to Employees Not 'Perquisites' Under Income-tax Act</h1> <h3>Kores (India) Limited Versus Commissioner Of Income-Tax</h3> Kores (India) Limited Versus Commissioner Of Income-Tax - [1992] 196 ITR 749 The High Court of Bombay ruled in favor of the assessee regarding the assessment year 1973-74, stating that house rent allowance, personal accident insurance premia, and club subscriptions paid by the company to its employees are not considered 'perquisites' for the purpose of disallowances under section 40A(5) of the Income-tax Act, 1961. This decision followed a previous judgment in the assessee's favor. No costs were awarded.
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