https://www.taxtmi.com/caselaws?id=19945 Residential accommodation provided to employees at the standard rent fixed under service regulations was not a perquisite under section 17(2) because no rent concession was established. The valuation rules for perquisites cannot be used to create a tax liability where the substantive charging provision is not satisfied. On that basis, retrospective tax recovery on the notional value of the accommodation lacked legal foundation, and deductions or circulars issued on that premise were liable to be set aside. en-us Fri, 06 Aug 1993 00:00:00 +0530 Tue, 10 Nov 2009 17:15:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19945 Residential accommodation provided to employees at the standard rent fixed under service regulations was not a perquisite under section 17(2) because no rent concession was established. The valuation rules for perquisites cannot be used to create a tax liability where the substantive charging provision is not satisfied. On that basis, retrospective tax recovery on the notional value of the accommodation lacked legal foundation, and deductions or circulars issued on that premise were liable to be set aside. Case-Laws Income Tax Fri, 06 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19945