Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2003 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2003 (3) TMI 68 - HC - Income TaxHeld that Tribunal erred in holding that the interest received by the bank on the sale of Government securities held by it is assessable to tax as 'income from business' and not as 'interest on securities' - Held that Tribunal erred in holding that the discount on treasury bills is assessable as 'income from business' and not as 'interest on securities'?" - Tribunal was not right in law in holding that the expenditure incurred on repairs and maintenance of flats owned by the assessee and used for the residence of employees is not perquisite within the meaning of section 40A(5) of the Income-tax Act - Tribunal was not right in law in holding that the expenditure incurred by way of payment of ground rent, rates and taxes and society's charges in respect of the premises owned by the assessee and used for the purpose of residence of employees is not to be taken into account for the purpose of disallowance under section 40A(5)
|