https://www.taxtmi.com/caselaws?id=36805 The High Court upheld the Tribunal's decision that the value of perquisites to be assessed in the hands of the assessee need not be the amount disallowed in the assessments of the companies under section 40(c). Additionally, the court ruled that the amount assessed in the hands of the HUF should be excluded when computing the value of perquisites in the individual assessment of the assessee. The judgment emphasized assessing perquisites based on the actual benefit derived by the assessee rather than the disallowance made in the company's hands. en-us Wed, 14 Nov 1979 00:00:00 +0530 Wed, 24 Mar 2010 16:21:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36805 The High Court upheld the Tribunal's decision that the value of perquisites to be assessed in the hands of the assessee need not be the amount disallowed in the assessments of the companies under section 40(c). Additionally, the court ruled that the amount assessed in the hands of the HUF should be excluded when computing the value of perquisites in the individual assessment of the assessee. The judgment emphasized assessing perquisites based on the actual benefit derived by the assessee rather than the disallowance made in the company's hands. Case-Laws Income Tax Wed, 14 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36805