https://www.taxtmi.com/caselaws?id=11285 The value of a rent-free residential accommodation perquisite was held to be determined by reference to the standard rent fixed for similar accommodation under the U.P. Urban Buildings (Regulation of Letting, Rent and Eviction) Act, 1972, rather than by a different valuation basis under rule 3 of the Income-tax Rules, 1962. An earlier decision was treated as settling the valuation principle, and the Revenue could not introduce a fresh factual plea at the reference stage that had not been raised before the Tribunal. The perquisite value was therefore limited to the standard rent basis. en-us Thu, 06 Feb 2003 00:00:00 +0530 Tue, 04 Aug 2009 13:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11285 The value of a rent-free residential accommodation perquisite was held to be determined by reference to the standard rent fixed for similar accommodation under the U.P. Urban Buildings (Regulation of Letting, Rent and Eviction) Act, 1972, rather than by a different valuation basis under rule 3 of the Income-tax Rules, 1962. An earlier decision was treated as settling the valuation principle, and the Revenue could not introduce a fresh factual plea at the reference stage that had not been raised before the Tribunal. The perquisite value was therefore limited to the standard rent basis. Case-Laws Income Tax Thu, 06 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11285