https://www.taxtmi.com/caselaws?id=209664 The Tribunal held that in the absence of specific valuation rules for notional interest on a security deposit, the fringe benefit tax cannot be imposed. The provision of the security deposit was deemed a fringe benefit, but without defined valuation rules, it could not be taxed. As a result, the Tribunal allowed the appeals by the assessee, deleting the addition of Rs. 45 lakhs for notional interest as a fringe benefit for both assessment years. en-us Fri, 20 Jan 2012 00:00:00 +0530 Sat, 04 Feb 2012 16:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209664 The Tribunal held that in the absence of specific valuation rules for notional interest on a security deposit, the fringe benefit tax cannot be imposed. The provision of the security deposit was deemed a fringe benefit, but without defined valuation rules, it could not be taxed. As a result, the Tribunal allowed the appeals by the assessee, deleting the addition of Rs. 45 lakhs for notional interest as a fringe benefit for both assessment years. Case-Laws Income Tax Fri, 20 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209664