https://www.taxtmi.com/caselaws?id=19729 The court ruled in favor of the Revenue regarding the taxability of amounts received by the assessee company related to U.P. Zamindari Abolition Rehabilitation Grant Bonds, based on precedent. It also sided with the Revenue on the treatment of borrowal amount in determining the capital of ships, stating it should not be deducted. However, the court ruled in favor of the assessee on the classification of salary and perquisites under the Income-tax Act, treatment of exempted portion of gratuity, and the priority between deductions under sections 80J and 80G. The decisions provided clarity on these tax liability and deduction issues. en-us Thu, 24 Mar 1994 00:00:00 +0530 Mon, 09 Nov 2009 12:55:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19729 The court ruled in favor of the Revenue regarding the taxability of amounts received by the assessee company related to U.P. Zamindari Abolition Rehabilitation Grant Bonds, based on precedent. It also sided with the Revenue on the treatment of borrowal amount in determining the capital of ships, stating it should not be deducted. However, the court ruled in favor of the assessee on the classification of salary and perquisites under the Income-tax Act, treatment of exempted portion of gratuity, and the priority between deductions under sections 80J and 80G. The decisions provided clarity on these tax liability and deduction issues. Case-Laws Income Tax Thu, 24 Mar 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19729