2005 (11) TMI 500 - HC - Income Tax

Summary

The High Court of Uttarakhand upheld the decision of the Income Tax Appellate Tribunal regarding the grossing up of tax perquisites paid by ONGC on behalf of the assessee for the Assessment Year 1990-91. The court dismissed the appeal based on a previous judgment stating that multiple stage grossing up was not applicable to notional income under the Income Tax Act, 1961.