INDIAN OXYGEN LTD Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) In this reference under Section 256(1) of the Income-tax Act, 1961, the following questions of law have been referred by the Tribunal to this court : Reference Application No. 487/(Cal) of 1087 : (At the instance of the assessee) :

(2.) Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that reimbursement of medical expenses paid in cash to its employees was 'salary' for the purpose of Section 40A(5) of the Income-tax Act ?

(3.) Whether the Tribunal was right in holding that expenses incurred on publication of the chairman's speech in newspapers and journals came within the ambit of Section 37(3A) of the Income-tax Act?