Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2011 (9) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (9) TMI 728 - BOMBAY HIGH COURTDetermination of perquisite value - Rule 3 - Where an employer takes residential premises on rent by giving security deposit for the benefit of employees, whether the notional interest on such security deposit is liable to be included in the perquisite value of the accommodation given to the assessee employee is the question raised in this appeal - on a plain reading of Rule 3, it is seen that the perquisite value of the residential accommodation provided by the employer is to be computed on actual amount of lease rental paid or payable by the employer and not on notional basis - the actual amount of lease rent paid by the employer is less than 10% of the salary of the Assessee and therefore, the decision of the ITAT in holding that the actual amount of lease rent paid by the employer should be taken into consideration while computing the perquisite value of the residential accommodation cannot be faulted - Appeal is dismissed
|