https://www.taxtmi.com/caselaws?id=28957 The court held that the reimbursement of medical expenses did not constitute a benefit under section 40(c)(iii) of the Income-tax Act, ruling in favor of the assessee. Regarding the determination of the actual cost of two cranes for depreciation purposes, the court sided with the Revenue, stating that the market value at the time of acquisition should be considered, rather than the higher valuation provided by the assessee's valuer. Each party was directed to bear their own costs. en-us Wed, 04 Nov 1981 00:00:00 +0530 Tue, 09 Mar 2010 10:39:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28957 The court held that the reimbursement of medical expenses did not constitute a benefit under section 40(c)(iii) of the Income-tax Act, ruling in favor of the assessee. Regarding the determination of the actual cost of two cranes for depreciation purposes, the court sided with the Revenue, stating that the market value at the time of acquisition should be considered, rather than the higher valuation provided by the assessee's valuer. Each party was directed to bear their own costs. Case-Laws Income Tax Wed, 04 Nov 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28957