https://www.taxtmi.com/caselaws?id=17210 The court held that the Income-tax Officer erred in valuing the perquisite of rent-free residential accommodation at Rs. 30,000 per annum without considering if it exceeded the standard rent under the Rent Control Act. The Tribunal's support of this valuation was deemed unjustified. The court directed the Income-tax Officer to either accept the fair rental value provided by the assessee or determine it in accordance with the Rent Control Act principles. The decision favored the assessee, and the reference was disposed of without costs. en-us Wed, 17 Sep 1997 00:00:00 +0530 Tue, 15 Sep 2009 18:28:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17210 The court held that the Income-tax Officer erred in valuing the perquisite of rent-free residential accommodation at Rs. 30,000 per annum without considering if it exceeded the standard rent under the Rent Control Act. The Tribunal's support of this valuation was deemed unjustified. The court directed the Income-tax Officer to either accept the fair rental value provided by the assessee or determine it in accordance with the Rent Control Act principles. The decision favored the assessee, and the reference was disposed of without costs. Case-Laws Income Tax Wed, 17 Sep 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17210