https://www.taxtmi.com/caselaws?id=39342 The High Court ruled in favor of the department, holding that the perquisite obtained by the assessee in the form of rent-free accommodation should be considered as income under section 2(24)(iv) of the Income-tax Act. The court rejected the argument that the perquisite should be classified under the head "profits and gains of business or profession," stating that it had already been included in the assessee's income from other sources. The court upheld the decision of the income-tax authorities and awarded costs of Rs. 200 to the department. en-us Thu, 28 Mar 1974 00:00:00 +0530 Thu, 15 Apr 2010 17:06:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39342 The High Court ruled in favor of the department, holding that the perquisite obtained by the assessee in the form of rent-free accommodation should be considered as income under section 2(24)(iv) of the Income-tax Act. The court rejected the argument that the perquisite should be classified under the head "profits and gains of business or profession," stating that it had already been included in the assessee's income from other sources. The court upheld the decision of the income-tax authorities and awarded costs of Rs. 200 to the department. Case-Laws Income Tax Thu, 28 Mar 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39342