Cit vs Hindustan Everest Tools Ltd.
2004 Latest Caselaw 290 Del

Citation : 2004 Latest Caselaw 290 Del
Judgement Date : 17 March, 2004

Delhi High Court

Cit vs Hindustan Everest Tools Ltd. on 17 March, 2004

Equivalent citations: 2004 141 TAXMAN 309 Delhi

ORDER

At the instance of the revenue, the Tribunal has referred the following question of law to this court :

"Whether, the Income Tax Appellate Tribunal was justified insetting aside the disallowance under section 40A(S) by excluding cash payments from perquisites for the purpose of computation."

2. We are not required to discuss the matter in detail since the matter is covered by the judgment of the Supreme Court in the case of CIT v. Mafatlal Gangabhai & Co. (P) Ltd. (1996) 19 ITR 644 (SC). Accordingly, the reference is required to be decided against the revenue and in favor of the assessed.

The reference stands disposed of.