https://www.taxtmi.com/caselaws?id=16053 The court held that Rule 3(a)(iii) of the Income-tax Rules, 1962 is mandatory and applies to both owned and hired accommodations provided by the employer. The Tribunal's previous decision was deemed erroneous, and the Tribunal was directed to reassess the fair rental value in accordance with the statutory provisions. The court ruled in favor of the Revenue, emphasizing that the valuation of perquisites for rent-free accommodation must follow the statutory method outlined in Rule 3(a)(iii). en-us Fri, 20 Feb 1998 00:00:00 +0530 Mon, 31 Aug 2009 16:50:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16053 The court held that Rule 3(a)(iii) of the Income-tax Rules, 1962 is mandatory and applies to both owned and hired accommodations provided by the employer. The Tribunal's previous decision was deemed erroneous, and the Tribunal was directed to reassess the fair rental value in accordance with the statutory provisions. The court ruled in favor of the Revenue, emphasizing that the valuation of perquisites for rent-free accommodation must follow the statutory method outlined in Rule 3(a)(iii). Case-Laws Income Tax Fri, 20 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16053