https://www.taxtmi.com/caselaws?id=208560 A promoter-director's purchase of a company flat at below book value is treated as a taxable benefit only to the extent of the company's actual loss, measured by the difference between book value and the consideration received, not by market value. A protected tenant's rent cannot be notionally enhanced beyond the standard rent under rent control law, so no perquisite arises on the basis of estimated market rent where the statutory ceiling governs. The note therefore distinguishes between a real benefit from an undervalued purchase and an impermissible notional benefit from rent imputation. en-us Tue, 19 Jan 2010 00:00:00 +0530 Tue, 14 Aug 2012 14:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208560 A promoter-director's purchase of a company flat at below book value is treated as a taxable benefit only to the extent of the company's actual loss, measured by the difference between book value and the consideration received, not by market value. A protected tenant's rent cannot be notionally enhanced beyond the standard rent under rent control law, so no perquisite arises on the basis of estimated market rent where the statutory ceiling governs. The note therefore distinguishes between a real benefit from an undervalued purchase and an impermissible notional benefit from rent imputation. Case-Laws Income Tax Tue, 19 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208560