https://www.taxtmi.com/caselaws?id=24088 The High Court of Punjab and Haryana ruled in favor of the assessee, holding that the value of the perquisite of a free car provided to employees should be Rs. 150 per month per employee for assessment under section 40(c)(iii) in the hands of the employer. The court emphasized consistency in assessing the value of the perquisite for both employees and employers, ensuring equity in taxation. The Income-tax Officer was directed to calculate the perquisite value in accordance with rule 3(c)(ii) and determine the disallowance under section 40(c)(iii) accordingly, with no costs awarded. en-us Thu, 02 Feb 1989 00:00:00 +0530 Sat, 16 Jan 2010 15:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24088 The High Court of Punjab and Haryana ruled in favor of the assessee, holding that the value of the perquisite of a free car provided to employees should be Rs. 150 per month per employee for assessment under section 40(c)(iii) in the hands of the employer. The court emphasized consistency in assessing the value of the perquisite for both employees and employers, ensuring equity in taxation. The Income-tax Officer was directed to calculate the perquisite value in accordance with rule 3(c)(ii) and determine the disallowance under section 40(c)(iii) accordingly, with no costs awarded. Case-Laws Income Tax Thu, 02 Feb 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24088