TaxTMI 
TaxTMI 
2001 (5) TMI 41
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....f the Income-tax Act, 1961, the Tribunal has referred the following question for our opinion : "Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in holding that the entire travel concession or assistance received by the employee has to be excluded from the purview of section 40A(5) of the Act read with section 10(5) and rule 2B of the Income-tax Rules ?" T....
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.... Tribunal, the Tribunal has considered the provisions of section 40A(5) and rule 2B of the Income-tax Rules, 1962, and also the provisions of section 10(5) of the Act of 1961. The Tribunal has taken the view that the entire travel concession or assistance has to be excluded from the purview of section 40A(5). Heard learned counsel for the parties. Learned counsel for the Revenue submits that the....
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..... If the payment or leave travel concession or travelling assistance has been given more than the limit that amount exceeding the limit exempted under section 10(5) of the Act is taxable. In other words if any concession is given more than the limits provided in rule 2B that is not exempted in clause (5) of section 10 of the Act and when that is not exempted in the hands of the individual employ....
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....nt part of clause (5) of section 10 reads under : "(5) in the case of an individual, the value of any travel concession or assistance received by, or due to, him, (a) from his employer for himself and his family, in connection with his proceeding on leave to any place in India ; (b) from his employer or former employer for himself and his family, in connection with his proceeding to any place ....