https://www.taxtmi.com/caselaws?id=186956 The Tribunal partially allowed the assessee's appeal, ruling in favor of the assessee on the motor car expenses and Section 2(22)(e) issues. The Tribunal found that the car was owned by the company despite being in the director's name, allowing depreciation and expenses for business use. The application of Section 2(22)(e) was deemed inapplicable as the car purchase was in the ordinary course of business. The matter of lease line charges was remanded for fresh consideration, and relief was granted regarding the levy of interest under Section 234B. en-us Sat, 04 Apr 2009 00:00:00 +0530 Wed, 05 Oct 2016 13:06:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186956 The Tribunal partially allowed the assessee's appeal, ruling in favor of the assessee on the motor car expenses and Section 2(22)(e) issues. The Tribunal found that the car was owned by the company despite being in the director's name, allowing depreciation and expenses for business use. The application of Section 2(22)(e) was deemed inapplicable as the car purchase was in the ordinary course of business. The matter of lease line charges was remanded for fresh consideration, and relief was granted regarding the levy of interest under Section 234B. Case-Laws Income Tax Sat, 04 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186956