https://www.taxtmi.com/caselaws?id=62779 Rent-free furnished accommodation perquisite under the salary rules is valued by reference to fair rental value, and where rent control law applies that value is confined to the legally determinable standard rent. The text states that the expression "fair rental value" means the rent a property can lawfully fetch, not an unrestricted market figure, and treats the Delhi Rent Control Act ceiling as the outer limit of reasonable rent. It further notes that municipal valuation principles and Section 23(1)(a) are in pari materia for this purpose, while the argument that the employer's loss should measure the perquisite was rejected. en-us Fri, 15 May 1981 00:00:00 +0530 Fri, 21 Jan 2011 17:04:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62779 Rent-free furnished accommodation perquisite under the salary rules is valued by reference to fair rental value, and where rent control law applies that value is confined to the legally determinable standard rent. The text states that the expression "fair rental value" means the rent a property can lawfully fetch, not an unrestricted market figure, and treats the Delhi Rent Control Act ceiling as the outer limit of reasonable rent. It further notes that municipal valuation principles and Section 23(1)(a) are in pari materia for this purpose, while the argument that the employer's loss should measure the perquisite was rejected. Case-Laws Income Tax Fri, 15 May 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62779