https://www.taxtmi.com/caselaws?id=26432 The court held that bonus is not considered a perquisite under section 40(a)(v) of the Income-tax Act, 1961, based on precedent. Concerning the depreciation claimed on a flat provided to the director, the Tribunal should have allowed it to the extent not covered by section 40(a)(v). The assessee was directed to pay the costs of the reference to the Revenue. en-us Mon, 07 Oct 1985 00:00:00 +0530 Fri, 05 Feb 2010 10:03:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26432 The court held that bonus is not considered a perquisite under section 40(a)(v) of the Income-tax Act, 1961, based on precedent. Concerning the depreciation claimed on a flat provided to the director, the Tribunal should have allowed it to the extent not covered by section 40(a)(v). The assessee was directed to pay the costs of the reference to the Revenue. Case-Laws Income Tax Mon, 07 Oct 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26432