https://www.taxtmi.com/caselaws?id=11779 For disallowance under section 40(c) of the Income-tax Act, the assessable value of a car-related perquisite in the employee-director's hands is not the controlling measure for the employer's computation. The court applied the distinction between the employer-assessee and the employee-assessee and held that, where the provision is pari materia with section 40A(5), the employer's disallowance must be determined independently on the basis of actual expenditure rather than the valuation used for the employee's salary assessment. The question was answered in the negative, in favour of the Revenue and against the assessee. en-us Thu, 27 Feb 2003 00:00:00 +0530 Mon, 08 Feb 2010 12:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11779 For disallowance under section 40(c) of the Income-tax Act, the assessable value of a car-related perquisite in the employee-director's hands is not the controlling measure for the employer's computation. The court applied the distinction between the employer-assessee and the employee-assessee and held that, where the provision is pari materia with section 40A(5), the employer's disallowance must be determined independently on the basis of actual expenditure rather than the valuation used for the employee's salary assessment. The question was answered in the negative, in favour of the Revenue and against the assessee. Case-Laws Income Tax Thu, 27 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11779