https://www.taxtmi.com/caselaws?id=35391 The court dismissed the Revenue's appeal regarding the treatment of free education as a perquisite for employees' children for the assessment year 2003-04. The court emphasized the correct interpretation of rule 3(5) of the Income-tax Rules, 1962, highlighting the need to consider the cost of education in a similar institution in or near the locality. The Assessing Officer's error in determining the perquisite value based on incorrect criteria led to the appeal's dismissal, as no substantial question of law arose. The judgment underscores the importance of accurate application of tax rules to ensure fair assessments and compliance. en-us Thu, 22 Nov 2007 00:00:00 +0530 Sat, 17 Sep 2011 16:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35391 The court dismissed the Revenue's appeal regarding the treatment of free education as a perquisite for employees' children for the assessment year 2003-04. The court emphasized the correct interpretation of rule 3(5) of the Income-tax Rules, 1962, highlighting the need to consider the cost of education in a similar institution in or near the locality. The Assessing Officer's error in determining the perquisite value based on incorrect criteria led to the appeal's dismissal, as no substantial question of law arose. The judgment underscores the importance of accurate application of tax rules to ensure fair assessments and compliance. Case-Laws Income Tax Thu, 22 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35391