https://www.taxtmi.com/caselaws?id=24918 The court ruled in favor of the assessee on the applicability of section 43A for increased liability due to currency fluctuations. However, the court directed a re-examination regarding depreciation and extra shift allowance on storage tanks and bore-wells. The treatment of notional expenditure on depreciation, repairs, and property tax was partially upheld. Expenses incurred on the issue of right shares were deemed capital expenditure. House rent and car allowance were not considered perquisites. Premium paid for personal accident insurance of employees was not treated as perquisites. Expenses on tea, coffee, etc., supplied to employees were found to be deductible. en-us Wed, 12 Feb 1986 00:00:00 +0530 Sat, 17 Jun 2017 15:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24918 The court ruled in favor of the assessee on the applicability of section 43A for increased liability due to currency fluctuations. However, the court directed a re-examination regarding depreciation and extra shift allowance on storage tanks and bore-wells. The treatment of notional expenditure on depreciation, repairs, and property tax was partially upheld. Expenses incurred on the issue of right shares were deemed capital expenditure. House rent and car allowance were not considered perquisites. Premium paid for personal accident insurance of employees was not treated as perquisites. Expenses on tea, coffee, etc., supplied to employees were found to be deductible. Case-Laws Income Tax Wed, 12 Feb 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24918