https://www.taxtmi.com/caselaws?id=204339 Reimbursement of employees' medical expenses was treated as not amounting to perquisites under the relevant income-tax provision, so the claim was allowed to the assessee. Surtax liability was also recognised as an allowable deduction in computing total income, with the assessee again succeeding. By contrast, the unclaimed balance of insurance premium, originally held in deposit in hire-purchase transactions, became taxable when it remained unclaimed for long periods and was written back to the profit and loss account; once it had effectively become the assessee's own money, it was treated as a trading receipt in that year. en-us Fri, 18 Feb 2011 00:00:00 +0530 Fri, 20 Dec 2024 21:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204339 Reimbursement of employees' medical expenses was treated as not amounting to perquisites under the relevant income-tax provision, so the claim was allowed to the assessee. Surtax liability was also recognised as an allowable deduction in computing total income, with the assessee again succeeding. By contrast, the unclaimed balance of insurance premium, originally held in deposit in hire-purchase transactions, became taxable when it remained unclaimed for long periods and was written back to the profit and loss account; once it had effectively become the assessee's own money, it was treated as a trading receipt in that year. Case-Laws Income Tax Fri, 18 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204339