https://www.taxtmi.com/caselaws?id=55849 The Tribunal allowed the appeal, ruling in favor of the assessee. It held that the car provided was for business purposes only, with no authorization for personal use, thus not constituting a taxable perquisite. The Tribunal emphasized the necessity of a legal or equitable claim for a benefit to be considered taxable income, distinguishing between authorized and unauthorized benefits. Consequently, the assessee was entitled to the full standard deduction of Rs. 3,500 under the Income Tax Act, 1961, as no taxable benefit or perquisite was derived from the company. en-us Tue, 22 Sep 1981 00:00:00 +0530 Tue, 30 Nov 2010 14:04:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55849 The Tribunal allowed the appeal, ruling in favor of the assessee. It held that the car provided was for business purposes only, with no authorization for personal use, thus not constituting a taxable perquisite. The Tribunal emphasized the necessity of a legal or equitable claim for a benefit to be considered taxable income, distinguishing between authorized and unauthorized benefits. Consequently, the assessee was entitled to the full standard deduction of Rs. 3,500 under the Income Tax Act, 1961, as no taxable benefit or perquisite was derived from the company. Case-Laws Income Tax Tue, 22 Sep 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55849