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2007 (7) TMI 436 - ITAT MUMBAIExtract: .......s rightly held and treated the benefit of interest-free loan as perquisite and accordingly, valued the same under section 17(2) of the Income-tax Act. The Assessing Officer has given adequate reasons for valuation of perquisite, which we consider to be quite reasonable. His order is therefore restored. 10. Appeal filed by the Department is allowed.
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