https://www.taxtmi.com/caselaws?id=37625 Occupancy of a company-allotted flat by a shareholder was treated as linked to the shareholder's investment, not as a free benefit giving rise to notional income from property or to assessment under the residuary head. The Bombay HC accepted the Tribunal's view that the Commissioner had proceeded on an unsupported assumption of free use, and therefore could not recharacterise the amount under section 12 as income from other sources. The reference was answered in favour of the assessee, and the assessment under the property head was restored. en-us Wed, 24 Jan 1979 00:00:00 +0530 Wed, 31 Mar 2010 10:38:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37625 Occupancy of a company-allotted flat by a shareholder was treated as linked to the shareholder's investment, not as a free benefit giving rise to notional income from property or to assessment under the residuary head. The Bombay HC accepted the Tribunal's view that the Commissioner had proceeded on an unsupported assumption of free use, and therefore could not recharacterise the amount under section 12 as income from other sources. The reference was answered in favour of the assessee, and the assessment under the property head was restored. Case-Laws Income Tax Wed, 24 Jan 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37625