https://www.taxtmi.com/caselaws?id=120654 The Tribunal allowed the appeal, directing the Assessing Officer to accept the perquisite value declared by the assessee for rent-free accommodation. The Tribunal emphasized that under the amended rules, fair rental value is no longer considered in determining perquisite value for accommodation. The employer's actual yearly rent payment was deemed the perquisite value, leading to the deletion of the additional valuation made by the CIT(A) based on incorrect assessment. Interest on security deposits was also excluded in determining fair rental value. en-us Mon, 28 Jan 2008 00:00:00 +0530 Mon, 23 Jul 2012 13:06:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120654 The Tribunal allowed the appeal, directing the Assessing Officer to accept the perquisite value declared by the assessee for rent-free accommodation. The Tribunal emphasized that under the amended rules, fair rental value is no longer considered in determining perquisite value for accommodation. The employer's actual yearly rent payment was deemed the perquisite value, leading to the deletion of the additional valuation made by the CIT(A) based on incorrect assessment. Interest on security deposits was also excluded in determining fair rental value. Case-Laws Income Tax Mon, 28 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120654