https://www.taxtmi.com/caselaws?id=24570 The High Court ruled in favor of the assessee, affirming the Tribunal's decisions on the interpretation of section 40(c)(iii) of the Income-tax Act, 1961. The Court held that certain payments made by the assessee-company to its employees, such as house rent allowance, ex gratia payment, motor car allowance, and insurance premium, should not be considered for disallowance under the Act. Additionally, the Court determined that emoluments like bonus, commission, allowances, prizes, and ex gratia payments should be included as part of 'salary' for computing disallowances under section 40(c)(iii). en-us Thu, 06 Oct 1988 00:00:00 +0530 Thu, 21 Jan 2010 10:02:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24570 The High Court ruled in favor of the assessee, affirming the Tribunal's decisions on the interpretation of section 40(c)(iii) of the Income-tax Act, 1961. The Court held that certain payments made by the assessee-company to its employees, such as house rent allowance, ex gratia payment, motor car allowance, and insurance premium, should not be considered for disallowance under the Act. Additionally, the Court determined that emoluments like bonus, commission, allowances, prizes, and ex gratia payments should be included as part of 'salary' for computing disallowances under section 40(c)(iii). Case-Laws Income Tax Thu, 06 Oct 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24570