2008 (9) TMI 315

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....Chandi/83 (by the Revenue) 1. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that the medical expenses by way of payment of premium towards group medical insurance scheme and reimbursement of medical expenses, electricity, water and gas charges shall not be treated as perquisite while computing disallowance under section 40(c)/40A(5) of the Income-tax Act, 1961? 2. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that the provisions of clause (c) of sub-section (5) of section 40A shall not apply for restricting the allowance in respect of salary and perquisite paid by the assessee to its employees? 3. Whether, on ....

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....er section 40(c)/40A(5) of the Act. The Commissioner of Income-tax (Appeals) allowed the claim of the assessee which was affirmed by the Tribunal. The assessee also made a claim under section 32A in respect of the amount spent for construction of roads within the factory premises by claiming the said expenditure the part of investment on plant for the purpose of investment allowance under section 32A of the Act, which claim was disallowed by the Assessing Officer but was allowed by the Commissioner of Income-tax (Appeals) and affirmed by the Tribunal. Re: Q. No. (1) (by the Revenue) 3. Learned counsel for the assessee relies on the judgment of the hon'ble Supreme Court in CIT v. Mafatlal Gangabhai and Co. (P.) Ltd. [1996] 219 ITR 644; [19....