https://www.taxtmi.com/caselaws?id=152067 A real tenancy protected by rent control law, rather than a mere licence, was treated as the governing basis for valuing a flat transferred by a company to the assessee. On that footing, the majority held that the property had to be valued as a tenanted asset, the yield method was appropriate, and a comparison with vacant-market value could not by itself establish a taxable benefit under section 2(24)(iv). The absence of acquisition action on Form No. 37EE was treated as supporting the genuineness of the stated consideration. A contrary view held that only a licence existed and the concessional transfer was taxable. en-us Fri, 08 Oct 1993 00:00:00 +0530 Mon, 24 Jun 2013 12:05:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152067 A real tenancy protected by rent control law, rather than a mere licence, was treated as the governing basis for valuing a flat transferred by a company to the assessee. On that footing, the majority held that the property had to be valued as a tenanted asset, the yield method was appropriate, and a comparison with vacant-market value could not by itself establish a taxable benefit under section 2(24)(iv). The absence of acquisition action on Form No. 37EE was treated as supporting the genuineness of the stated consideration. A contrary view held that only a licence existed and the concessional transfer was taxable. Case-Laws Income Tax Fri, 08 Oct 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152067