https://www.taxtmi.com/caselaws?id=29626 The High Court of Calcutta addressed a case involving the valuation of the perquisite of a free car provided to employees by a limited company for the assessment year 1966-67. The Court upheld the Tribunal's decision to value the perquisite at Rs. 150 per month per employee, in line with rule 3 of the Income-tax Rules, 1962. The Court emphasized the need for uniformity in assessment standards for employees and employers, supporting the principle of alignment between what the payer gives and what the receiver receives. The revenue's appeal was rejected, and the valuation of the perquisite at Rs. 150 per month per employee was affirmed. en-us Mon, 24 Nov 1980 00:00:00 +0530 Mon, 15 Mar 2010 11:59:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29626 The High Court of Calcutta addressed a case involving the valuation of the perquisite of a free car provided to employees by a limited company for the assessment year 1966-67. The Court upheld the Tribunal's decision to value the perquisite at Rs. 150 per month per employee, in line with rule 3 of the Income-tax Rules, 1962. The Court emphasized the need for uniformity in assessment standards for employees and employers, supporting the principle of alignment between what the payer gives and what the receiver receives. The revenue's appeal was rejected, and the valuation of the perquisite at Rs. 150 per month per employee was affirmed. Case-Laws Income Tax Mon, 24 Nov 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29626