https://www.taxtmi.com/caselaws?id=24899 The High Court held that the occupation of buildings by employees for business purposes qualifies as an exception under section 22 of the Income-tax Act, ruling in favor of the assessee. The Court determined that such occupation contributes to the business objectives of the assessee, categorizing the buildings as business assets. Additionally, the Court ruled in favor of the assessee regarding the concessional interest on loans to employees, emphasizing that section 40A(5) does not apply to such scenarios, providing clarity on perquisites, business assets, and allowable deductions under the Act. en-us Mon, 26 Oct 1987 00:00:00 +0530 Sat, 23 Jan 2010 11:09:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24899 The High Court held that the occupation of buildings by employees for business purposes qualifies as an exception under section 22 of the Income-tax Act, ruling in favor of the assessee. The Court determined that such occupation contributes to the business objectives of the assessee, categorizing the buildings as business assets. Additionally, the Court ruled in favor of the assessee regarding the concessional interest on loans to employees, emphasizing that section 40A(5) does not apply to such scenarios, providing clarity on perquisites, business assets, and allowable deductions under the Act. Case-Laws Income Tax Mon, 26 Oct 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24899