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Commissioner of Income-tax Vs. Greaves Cotton and Co. Ltd - Court Judgment

SooperKanoon Citation

Subject

Direct Taxation

Court

Mumbai High Court

Decided On

Case Number

Income-tax Reference No. 299 of 1977

Judge

Reported in

[1991]191ITR267(Bom)

Acts

Income Tax Act, 1961 - Sections 40(A)

Appellant

Commissioner of Income-tax

Respondent

Greaves Cotton and Co. Ltd

Appellant Advocate

Dr. V. Balasubramanian, Adv.

Respondent Advocate

Miss. H.R. Doshi, Adv.

Excerpt:


- indian penal code, 1860 [c.a. no. 45/1860].sections 124-a, 153-a, 153-b, 292, 293 & 295a; [f.i. rebello, smt v.k. tahilramani & a.s. oka, jj] declaration as to forfeiture of book held, the power can be exercised only if the government forms opinion that said publication contains matter which is an offence under either of sections 124-a, 153-a, 153-b, 292, 293, 295a of i.p.c., t.d. sugla, j. 1. in this departmental reference relating to the assessee's assessment for the assessment years 1968-69 and 1969-70, the tribunal has referred to this court the following question of law under section 256(1) of the income-tax act, 1961 : 'whether, on the facts and in the circumstances of the case and on a proper construction of section 40(a)(v) of the income-tax act. 1961, and/or the relevant circulars of the central board of direct taxes on the subject, the commission, car allowance and bonus paid by the assessee to its employees were not to be treated as perquisites for the purposes of the said section ?' 2. counsel are agreed that, in view of our court's judgment in the case of cit v. indokem private ltd. : [1981]132itr125(bom) , the question is to be answered in the affirmative and in favour of the assessee. the question is so answered. 3. no order as to costs.

Judgment:


T.D. Sugla, J.

1. In this departmental reference relating to the assessee's assessment for the assessment years 1968-69 and 1969-70, the Tribunal has referred to this court the following question of law under section 256(1) of the Income-tax Act, 1961 :

'Whether, on the facts and in the circumstances of the case and on a proper construction of section 40(a)(v) of the Income-tax Act. 1961, and/or the relevant circulars of the Central Board of Direct Taxes on the subject, the commission, car allowance and bonus paid by the assessee to its employees were not to be treated as perquisites for the purposes of the said section ?'

2. Counsel are agreed that, in view of our court's judgment in the case of CIT v. Indokem Private Ltd. : [1981]132ITR125(Bom) , the question is to be answered in the affirmative and in favour of the assessee. The question is so answered.

3. No order as to costs.


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