https://www.taxtmi.com/caselaws?id=16472 Reimbursement of medical and telephone expenses to managing directors constituted "benefit" under s. 40(c)(i) read with s. 40A(5), requiring inclusion in the disallowance; the Tribunal's contrary view was erroneous and the assessee's claim failed. Personal accident insurance premia paid on policies taken out by the company were not shown to be the directors' obligation or a perquisite to them; the Tribunal correctly allowed the expenditure and the Revenue's challenge failed. Fees paid for a feasibility report for a new mini steel plant, being a project distinct from the existing business, were capital in nature; the Tribunal erred and the Revenue succeeded. RCC roads were "buildings": depreciation was allowable under s. 32, but development rebate under s. 33 was impermissible; relief was split. The s. 80-I claim was decided on an erroneous premise; the negative answer left the matter open for fresh Tribunal adjudication under s. 80-I read with Schedule VI. en-us Mon, 13 Apr 1998 00:00:00 +0530 Wed, 31 Dec 2025 10:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16472 Reimbursement of medical and telephone expenses to managing directors constituted "benefit" under s. 40(c)(i) read with s. 40A(5), requiring inclusion in the disallowance; the Tribunal's contrary view was erroneous and the assessee's claim failed. Personal accident insurance premia paid on policies taken out by the company were not shown to be the directors' obligation or a perquisite to them; the Tribunal correctly allowed the expenditure and the Revenue's challenge failed. Fees paid for a feasibility report for a new mini steel plant, being a project distinct from the existing business, were capital in nature; the Tribunal erred and the Revenue succeeded. RCC roads were "buildings": depreciation was allowable under s. 32, but development rebate under s. 33 was impermissible; relief was split. The s. 80-I claim was decided on an erroneous premise; the negative answer left the matter open for fresh Tribunal adjudication under s. 80-I read with Schedule VI. Case-Laws Income Tax Mon, 13 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16472