https://www.taxtmi.com/caselaws?id=408600 The Tribunal directed the Assessing Officer to value the fringe benefits of free/concessional tickets provided to employees based on the Frequent Flyer Programme (FFP) valuation method, reducing costs recovered from employees. The Tribunal found the method used by the AO to be inappropriate as the tickets issued to employees did not guarantee boarding. The appeal of the Revenue was allowed for statistical purposes, and the issue was remanded back to the AO for valuation in accordance with the FFP method. en-us Fri, 04 Jun 2021 00:00:00 +0530 Wed, 16 Jun 2021 10:36:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408600 The Tribunal directed the Assessing Officer to value the fringe benefits of free/concessional tickets provided to employees based on the Frequent Flyer Programme (FFP) valuation method, reducing costs recovered from employees. The Tribunal found the method used by the AO to be inappropriate as the tickets issued to employees did not guarantee boarding. The appeal of the Revenue was allowed for statistical purposes, and the issue was remanded back to the AO for valuation in accordance with the FFP method. Case-Laws Income Tax Fri, 04 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408600