High Court rules motor car allowance a perquisite, grants 35% tax rebate to manufacturer

The High Court of Calcutta ruled in favor of the assessee, holding that the Tribunal erred in not considering the motor car allowance as a perquisite and that the assessee was eligible for a 35% rebate on corporate tax as a manufacturer of automobile ancillaries. The judgment was based on the findings and directions given by the Appellate Tribunal and AAC, with each party bearing their own costs.

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The High Court of Calcutta ruled in favor of the assessee on two questions: 1) Tribunal erred in not considering motor car allowance as a perquisite, and 2) Assessee was eligible for a 35% rebate on corporate tax as a manufacturer of automobile ancillaries. The judgment was based on the findings and directions given by the Appellate Tribunal and AAC. Each party will bear their own costs.

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