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2003 (4) TMI 10 - HC - Income TaxComputing the value of perquisites – rate of interest - Petitioners challenge the constitutional validity of the amendment made to rule 3 of the Income-tax Rules, 1962, under the Notification No. S. O. 940(E), dated September 25, 2001, with effect from April 1, 2001. By a later Circular No. 15, dated December 12, 2001, option was given to the employees governed by that amended rule to compute the value of perquisites under the old rule for the period from April 1, 2001, to September 30, 2001. - The amended rule in their view is violative of article 14. - Validity of the amendment to rule 3 had been considered and the amendment upheld in the cases of BHEL Employees' Association v. Union of India [and Tata Workers' Union v. Union of India – So, this petition is dismissed
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