https://www.taxtmi.com/caselaws?id=55737 The Appellate Tribunal ITAT Ahmedabad-B considered whether the difference between market interest rates and interest charged on an employee's house construction loan constitutes a taxable perquisite under section 17(2)(iii)(c) of the Income-tax Act. The Tribunal interpreted "perquisite" broadly, including benefits beyond regular salary. As the interest charged was at a concessional rate, it was deemed a taxable benefit. The Tribunal remitted the matter to the ITO for reassessment, emphasizing a comprehensive evaluation of benefit values. The appeals were treated as allowed for statistical purposes, pending ITO reassessment based on the Tribunal's guidance. en-us Wed, 10 Feb 1982 00:00:00 +0530 Mon, 29 Nov 2010 17:23:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55737 The Appellate Tribunal ITAT Ahmedabad-B considered whether the difference between market interest rates and interest charged on an employee's house construction loan constitutes a taxable perquisite under section 17(2)(iii)(c) of the Income-tax Act. The Tribunal interpreted "perquisite" broadly, including benefits beyond regular salary. As the interest charged was at a concessional rate, it was deemed a taxable benefit. The Tribunal remitted the matter to the ITO for reassessment, emphasizing a comprehensive evaluation of benefit values. The appeals were treated as allowed for statistical purposes, pending ITO reassessment based on the Tribunal's guidance. Case-Laws Income Tax Wed, 10 Feb 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55737