https://www.taxtmi.com/caselaws?id=251968 The High Court ruled in favor of the respondent on the treatment of expenditure and perquisites issues, emphasizing the commercial perspective and consistency in decisions. The Court held that the expenditure for business purposes, including wooden partitions and electric wiring, was revenue in nature, not capital. It maintained the perquisite amount for employees at Rs. 500 per employee, aligning with the Tribunal's previous decision. The judgment underscored the importance of legal precedents and prior decisions in determining the allowability of deductions and perquisites for tax purposes. en-us Thu, 12 Jun 2014 00:00:00 +0530 Fri, 20 Feb 2015 14:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251968 The High Court ruled in favor of the respondent on the treatment of expenditure and perquisites issues, emphasizing the commercial perspective and consistency in decisions. The Court held that the expenditure for business purposes, including wooden partitions and electric wiring, was revenue in nature, not capital. It maintained the perquisite amount for employees at Rs. 500 per employee, aligning with the Tribunal's previous decision. The judgment underscored the importance of legal precedents and prior decisions in determining the allowability of deductions and perquisites for tax purposes. Case-Laws Income Tax Thu, 12 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251968