https://www.taxtmi.com/caselaws?id=19188 Occupation of part of business premises by a partner for personal residence was treated as a benefit or perquisite taxable under section 28(iv) of the Income-tax Act, 1961. Applying the earlier binding view, the court held that a partner's personal use of premises, even where the flat was also partly used for the firm's business, gives rise to taxable income in the form of a perquisite. The reference was answered in favour of the Revenue, and the assessee was held rightly assessable on the value of the benefit arising from such occupation. en-us Fri, 08 Apr 1994 00:00:00 +0530 Wed, 04 Nov 2009 15:26:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19188 Occupation of part of business premises by a partner for personal residence was treated as a benefit or perquisite taxable under section 28(iv) of the Income-tax Act, 1961. Applying the earlier binding view, the court held that a partner's personal use of premises, even where the flat was also partly used for the firm's business, gives rise to taxable income in the form of a perquisite. The reference was answered in favour of the Revenue, and the assessee was held rightly assessable on the value of the benefit arising from such occupation. Case-Laws Income Tax Fri, 08 Apr 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19188