https://www.taxtmi.com/caselaws?id=15983 The court upheld the disallowance of motor car maintenance expenses for personal use of directors under section 40(c) of the Income-tax Act, 1961, as the assessee failed to prove the cars were used solely for business purposes. It also affirmed the treatment of medical expenses reimbursed to a director as perquisites under section 40(c) and disallowed a deduction claim for payment to ICICI due to foreign exchange fluctuation. The court ruled in favor of the Revenue, holding that depreciation on cars used for personal purposes should be included in the disallowance computation under section 40(c). en-us Wed, 26 Nov 1997 00:00:00 +0530 Mon, 31 Aug 2009 13:07:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15983 The court upheld the disallowance of motor car maintenance expenses for personal use of directors under section 40(c) of the Income-tax Act, 1961, as the assessee failed to prove the cars were used solely for business purposes. It also affirmed the treatment of medical expenses reimbursed to a director as perquisites under section 40(c) and disallowed a deduction claim for payment to ICICI due to foreign exchange fluctuation. The court ruled in favor of the Revenue, holding that depreciation on cars used for personal purposes should be included in the disallowance computation under section 40(c). Case-Laws Income Tax Wed, 26 Nov 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15983