2000 (11) TMI 107

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....t the "Act"), for determination of the following question of law : "Whether, on the facts and in the circumstances of the case, the learned Income-tax Appellate Tribunal has erred in law in agreeing with the submission of the assessee that the value of other perquisites should be made in accordance with the corresponding rules contained in Income-tax Rules in conformity with the judgments repor....

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....lhi Bench "C", New Delhi, granted further relief in the following terms : "3. The next ground is regarding disallowance of Rs. 76,003 out of perquisites given to the managing director. Both the parties have admitted that this issue is fully covered by the decision of the Tribunal in I.T. A. No. 7022/D of 1992, for the assessment year 1988-89 in the case of the appellant. We have carefully gone ....

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....r to restrict the disallowance to the extent of 1/8th in respect of the car expenses and depreciation relatable to one car only which has been kept at the disposal of the managing director. 5. The next ground relates to disallowance of sales promotion expenses alleging the same as entertainment expenditure. Both the parties have agreed that the issue is squarely covered by the decision of the T....