https://www.taxtmi.com/caselaws?id=22302 The High Court of Bombay held that providing accommodation to an employee constitutes a perquisite under section 40A(5) of the Income-tax Act, 1961. The evaluation of the perquisite value should align with actual expenditure incurred by the assessee and depreciation allowed for the asset used by the employee. House rent allowance, conveyance allowance, and medical charges reimbursement were not considered perquisites under section 40A(5). The court allowed gratuity liability as a deduction for the assessment year 1973-74, emphasizing consideration of any new provisions applicable in that year. en-us Thu, 11 Apr 1991 00:00:00 +0530 Wed, 09 Dec 2009 10:56:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22302 The High Court of Bombay held that providing accommodation to an employee constitutes a perquisite under section 40A(5) of the Income-tax Act, 1961. The evaluation of the perquisite value should align with actual expenditure incurred by the assessee and depreciation allowed for the asset used by the employee. House rent allowance, conveyance allowance, and medical charges reimbursement were not considered perquisites under section 40A(5). The court allowed gratuity liability as a deduction for the assessment year 1973-74, emphasizing consideration of any new provisions applicable in that year. Case-Laws Income Tax Thu, 11 Apr 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22302