https://www.taxtmi.com/caselaws?id=8821 The annual letting value of an employer company's own rent-free residential accommodation, together with related taxes, insurance premium and incidental charges, was not "expenditure" under the Expenditure-tax Act. "Expenditure" under section 2(h) covers sums actually spent or disbursed, and section 4(i) applies only where another person incurs expenditure in respect of the assessee's obligation or personal requirement. Providing a company-owned house for free residence was treated as use of a capital asset, not an outlay; foregone rent was not expenditure. Taxes and insurance remained the owner's liabilities and were payable irrespective of occupancy, so they were not paid on behalf of the employee or for his benefit. en-us Wed, 09 Feb 1972 00:00:00 +0530 Thu, 04 Jun 2009 18:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8821 The annual letting value of an employer company's own rent-free residential accommodation, together with related taxes, insurance premium and incidental charges, was not "expenditure" under the Expenditure-tax Act. "Expenditure" under section 2(h) covers sums actually spent or disbursed, and section 4(i) applies only where another person incurs expenditure in respect of the assessee's obligation or personal requirement. Providing a company-owned house for free residence was treated as use of a capital asset, not an outlay; foregone rent was not expenditure. Taxes and insurance remained the owner's liabilities and were payable irrespective of occupancy, so they were not paid on behalf of the employee or for his benefit. Case-Laws Income Tax Wed, 09 Feb 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8821