https://www.taxtmi.com/caselaws?id=211236 The Court upheld the decision of the ITAT, ruling that the perquisite value of accommodation for an employee should be based on the actual lease rent paid by the employer, not including notional interest on a security deposit. The Court emphasized adherence to Rule 3 of the Income Tax Rules, which specifies the calculation method. The appeal was dismissed, affirming that the ITAT's interpretation aligns with the rules, and there was no justification for including notional interest in determining the perquisite value. en-us Tue, 06 Sep 2011 00:00:00 +0530 Tue, 29 Jan 2013 16:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211236 The Court upheld the decision of the ITAT, ruling that the perquisite value of accommodation for an employee should be based on the actual lease rent paid by the employer, not including notional interest on a security deposit. The Court emphasized adherence to Rule 3 of the Income Tax Rules, which specifies the calculation method. The appeal was dismissed, affirming that the ITAT's interpretation aligns with the rules, and there was no justification for including notional interest in determining the perquisite value. Case-Laws Income Tax Tue, 06 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211236