https://www.taxtmi.com/caselaws?id=29037 The court ruled in favor of the assessee on both issues. The premium paid for medical insurance policies on employees' lives did not result in any benefit, amenity, or perquisite under section 40(c)(iii) of the Income-tax Act, 1961. Additionally, the salary payable to employees should be reduced by recoveries from managed companies when computing disallowable amounts under the same section. Each party was directed to bear its own costs. en-us Mon, 02 Mar 1981 00:00:00 +0530 Wed, 10 Mar 2010 13:34:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29037 The court ruled in favor of the assessee on both issues. The premium paid for medical insurance policies on employees' lives did not result in any benefit, amenity, or perquisite under section 40(c)(iii) of the Income-tax Act, 1961. Additionally, the salary payable to employees should be reduced by recoveries from managed companies when computing disallowable amounts under the same section. Each party was directed to bear its own costs. Case-Laws Income Tax Mon, 02 Mar 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29037