1999 (2) TMI 18

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....e following questions of law for the opinion of this court at the instance of the Department. Department's questions: "1. Whether, on the facts and in the circumstances of the case, the expenditure incurred on the repairs and maintenance of the premises given rent-free to the employee cannot be considered as perquisite for the purpose of section 40A(5)? 2. Whether, on the facts and in the ci....

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....ession' and not as 'interest on securities'?" At the outset, it may be mentioned that learned counsel for the parties stated that all the above questions stand covered by the various judgments of this court and the Supreme Court. Question No. 1 stands covered by the judgment of the Bombay High Court in Lubrizol India Ltd. v. CIT [1991] 187 ITR 25. Accordingly, question No. 1 is answered in t....