1989 (12) TMI 41

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....instance of the Revenue, the Incometax Appellate Tribunal has referred the following question of law, for the decision of this court, in the two referred cases : "Whether, on the facts and in the circumstances of the case, the expenditure incurred by way maintenance of bungalows (assets of the assessee used by employees for their own purposes or benefit) occupied by its employees and the deprec....

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....ess under section 40A(5) of the Act. The Appellate Assistant Commissioner set aside the said portion of the order and accepted the plea of the assessee. In the further appeal filed by the Revenue, it was held by the Appellate Tribunal that the expenditure on the upkeep of the buildings could not be considered as part of the perquisites in the hands of the employees. It was also held that no portio....