M/S T T K PRESTIGE LTD vs. THE UNION OF INDIA REPTD BY ITS FINANCE SECRETARY

Bench: The Hon’Ble Mr.Justice P.B. Bajanthri W.P. No.26037/2005 C/W W.P.No.4464/2007 & W.P.No.27087/2005(It)

115W to 115WL) of the Act is a code by itself, providing for charging section, computation mechanism, assessment and other provisions. Hence the definition of income and provisions of section 4 of the Income Tax Act are not applicable. 4. It is submitted that the Explanation to section 115 WC of the act provides for different percentage of fringe benefit