https://www.taxtmi.com/caselaws?id=70933 The Tribunal allowed the appeals, determining that the accommodation provided by the assessees to their employees did not constitute a perquisite under section 17(2)(ii) of the Income Tax Act, as there was no concession in rent. Consequently, Rule 3 for valuation was inapplicable. The assessees were not liable for failing to deduct tax under section 192, as no perquisite existed at the time of salary payment. They could not be deemed "assessee-in-default" under section 201 due to retrospective amendments, nor were they liable for interest under section 201(1A). en-us Fri, 04 Jul 2008 00:00:00 +0530 Thu, 18 Jan 2024 12:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70933 The Tribunal allowed the appeals, determining that the accommodation provided by the assessees to their employees did not constitute a perquisite under section 17(2)(ii) of the Income Tax Act, as there was no concession in rent. Consequently, Rule 3 for valuation was inapplicable. The assessees were not liable for failing to deduct tax under section 192, as no perquisite existed at the time of salary payment. They could not be deemed "assessee-in-default" under section 201 due to retrospective amendments, nor were they liable for interest under section 201(1A). Case-Laws Income Tax Fri, 04 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70933