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Madras High Court Allows MRF Ltd. Appeal on Fringe Benefit Tax for Medical Reimbursement. Medical Reimbursement up to Rs.15,000 per Employee per Annum Not Chargeable to Fringe Benefit Tax Under Section 115WB(2) of Income Tax Act, 1961.

The appellant, MRF Ltd., a company manufacturing automobile tyres and rubber products, filed Tax Case Appeals under Section 260A of the Income Tax Act...

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Bombay High Court Dismisses Revenue's Appeal in Film Production Expenditure Disallowance Case. Expenditure on Positive Prints and Advertisement for Film 'KAAL' Held Allowable Under Section 37 of Income Tax Act, 1961 as Rule 9A Does Not Exclude General Deduction Provision.

The case involves two appeals filed by the Revenue against the common order of the Income Tax Appellate Tribunal (ITAT) relating to the assessment yea...

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Bombay High Court Allows Assessee's Reference in Income Tax Deduction and Revision Case. The court considered whether the assessee is entitled to deduction under Section 80I and whether the Tribunal correctly sustained the CIT's revision under Section 263 of the Income Tax Act, 1961.

The case involves an Income Tax Reference under Section 256(1) of the Income Tax Act, 1961, at the instance of the assessee, M/s. Vijay Udhyog, a part...

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Bombay High Court Allows Revenue Appeal in Part on Reimbursement of Expenses Taxability Under Income Tax Act, 1961 — Reimbursement of Actual Expenses Not Taxable as Income, but Interest Under Section 234B is Mandatory.

The appeal by the Revenue under the Income Tax Act, 1961, challenged the order of the Income Tax Appellate Tribunal (ITAT) for the assessment year 199...

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Bombay High Court Dismisses Revenue's Application for Reference in Co-operative Bank Deduction Case. Interest on Government Securities Earmarked Against Statutory Reserve Fund Held Eligible for Deduction Under Section 80P(2)(a)(i) of the Income Tax Act, 1961.

The case involves an application under section 256(2) of the Income Tax Act, 1961, filed by the Commissioner of Income Tax, Mumbai City III, against t...