https://www.taxtmi.com/caselaws?id=12186 For assessment year 1971-72, the value of rent-free residential accommodation provided by an employer was held to be limited to the standard rent fixed under the applicable rent control law. The court followed binding precedent that, where a company's property is used by a director, the absence of a formal letting does not prevent valuation of the accommodation perquisite on the basis of standard rent. That principle was applied to determine the taxable value of the benefit, and the Tribunal's view limiting the valuation was upheld in favour of the assessee. en-us Thu, 06 Dec 2001 00:00:00 +0530 Thu, 18 Feb 2010 16:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12186 For assessment year 1971-72, the value of rent-free residential accommodation provided by an employer was held to be limited to the standard rent fixed under the applicable rent control law. The court followed binding precedent that, where a company's property is used by a director, the absence of a formal letting does not prevent valuation of the accommodation perquisite on the basis of standard rent. That principle was applied to determine the taxable value of the benefit, and the Tribunal's view limiting the valuation was upheld in favour of the assessee. Case-Laws Income Tax Thu, 06 Dec 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12186