https://www.taxtmi.com/caselaws?id=13822 The court ruled in favor of the assessee, determining that the interest subsidy received by employees was not a perquisite under section 17(1)(iv) of the Income-tax Act. Consequently, the interest subsidy was not included in the employees' salary income for tax deduction under section 192. The court also held that the assessee-company was not liable to pay tax on the interest subsidy under section 201 of the Income-tax Act. The decision was based on the interpretation of relevant provisions and previous judgments, concluding that the interest subsidy did not constitute a perquisite, thus relieving the assessee from tax liability on it. en-us Tue, 28 Aug 2001 00:00:00 +0530 Fri, 03 Jul 2009 11:11:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13822 The court ruled in favor of the assessee, determining that the interest subsidy received by employees was not a perquisite under section 17(1)(iv) of the Income-tax Act. Consequently, the interest subsidy was not included in the employees' salary income for tax deduction under section 192. The court also held that the assessee-company was not liable to pay tax on the interest subsidy under section 201 of the Income-tax Act. The decision was based on the interpretation of relevant provisions and previous judgments, concluding that the interest subsidy did not constitute a perquisite, thus relieving the assessee from tax liability on it. Case-Laws Income Tax Tue, 28 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13822