https://www.taxtmi.com/caselaws?id=5801 Premiums paid by an assessee on behalf of an employee-director required examination under section 40A(5) and section 40(c) of the Income-tax Act, 1961, because Explanation 2(b) treats as a perquisite any payment made, otherwise than to a recognised provident fund or approved superannuation fund, to secure life assurance or an annuity for an employee. On that statutory scheme, the character of the premia as salary or a disallowable perquisite raised a referable question of law. The Tribunal was therefore directed to refer the question to the High Court. en-us Thu, 18 Mar 1999 00:00:00 +0530 Wed, 29 Aug 2018 16:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5801 Premiums paid by an assessee on behalf of an employee-director required examination under section 40A(5) and section 40(c) of the Income-tax Act, 1961, because Explanation 2(b) treats as a perquisite any payment made, otherwise than to a recognised provident fund or approved superannuation fund, to secure life assurance or an annuity for an employee. On that statutory scheme, the character of the premia as salary or a disallowable perquisite raised a referable question of law. The Tribunal was therefore directed to refer the question to the High Court. Case-Laws Income Tax Thu, 18 Mar 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5801