https://www.taxtmi.com/caselaws?id=29437 Cash motor car allowance was treated as a perquisite within the statutory ceiling under section 40(c)(iii), with the mode of payment not altering its character, and the issue was resolved in the assessee's favour. The court also accepted that manufacture of automobile ancillaries brought the company within the specific rebate entry in Part III of the Finance Act, 1965 Schedule, so the corporate tax rebate was available. Both referred questions were thus answered against the Revenue and for the assessee, with no order as to costs. en-us Mon, 06 Jul 1981 00:00:00 +0530 Fri, 12 Mar 2010 17:39:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29437 Cash motor car allowance was treated as a perquisite within the statutory ceiling under section 40(c)(iii), with the mode of payment not altering its character, and the issue was resolved in the assessee's favour. The court also accepted that manufacture of automobile ancillaries brought the company within the specific rebate entry in Part III of the Finance Act, 1965 Schedule, so the corporate tax rebate was available. Both referred questions were thus answered against the Revenue and for the assessee, with no order as to costs. Case-Laws Income Tax Mon, 06 Jul 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29437