https://www.taxtmi.com/caselaws?id=65484 The tribunal dismissed the revenue's appeals, concluding that the assessee's valuation of the perquisite was bona fide, and therefore, the assessee could not be deemed an assessee-in-default under section 201(1) and section 201(1A). It upheld the deduction of Rs. 1,000 per month per child for teachers and staff members, directing the Assessing Officer to re-calculate the perquisite cost according to legal guidelines, considering both direct and indirect costs, excluding depreciation. The tribunal rejected the argument about employees filing returns and paying taxes due to lack of evidence. en-us Thu, 14 Feb 2008 00:00:00 +0530 Wed, 17 Jan 2024 13:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65484 The tribunal dismissed the revenue's appeals, concluding that the assessee's valuation of the perquisite was bona fide, and therefore, the assessee could not be deemed an assessee-in-default under section 201(1) and section 201(1A). It upheld the deduction of Rs. 1,000 per month per child for teachers and staff members, directing the Assessing Officer to re-calculate the perquisite cost according to legal guidelines, considering both direct and indirect costs, excluding depreciation. The tribunal rejected the argument about employees filing returns and paying taxes due to lack of evidence. Case-Laws Income Tax Thu, 14 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65484