https://www.taxtmi.com/caselaws?id=62571 The Tribunal dismissed the appeals and affirmed the Deputy Commissioner of Income-tax (Appeals) orders for all three years. The decision upheld the taxability of the perquisite value of the car at Rs. 3,600 per year and the reduction in standard deduction to Rs. 1,000, based on the assessee's admission of using the company's car for personal purposes. The Tribunal distinguished a previous judgment and emphasized the significance of the statement recorded under section 132(5) in supporting the decision. en-us Tue, 28 Feb 1995 00:00:00 +0530 Thu, 20 Jan 2011 14:24:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62571 The Tribunal dismissed the appeals and affirmed the Deputy Commissioner of Income-tax (Appeals) orders for all three years. The decision upheld the taxability of the perquisite value of the car at Rs. 3,600 per year and the reduction in standard deduction to Rs. 1,000, based on the assessee's admission of using the company's car for personal purposes. The Tribunal distinguished a previous judgment and emphasized the significance of the statement recorded under section 132(5) in supporting the decision. Case-Laws Income Tax Tue, 28 Feb 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62571