No Double Taxation – Perquisites Taxed in Director’s Hands – ITAT Deletes Disallowance u/s 37

Dalmia (Bros) Pvt. Ltd. Vs DCIT (ITAT Delhi) No Double Taxation – Perquisites Taxed in Director’s Hands – ITAT Deletes Disallowance u/s 37 During assessment, AO noted that Rs.4,00,204/- was incurred on vehicle maintenance paid to Patel Auto Services Pvt. Ltd. Since the vehicle was used by Director, AO held it to be personal expenditure & disallowed the same u/s 37. AO further disallowed Rs.6,04,196/- incurred on club expenses of Directors & employees, treating them as personal in nature. CIT(A) upheld both disallowances. Before Tribunal, Assessee submitted that similar disall...