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2018 (6) TMI 1115 - AT - Income TaxValue of perquisite provided by the assessee company to its employees-assessee - default for non-deduction of tax at source from the amounts paid to the employees towards car running and maintenance expenses - Held that:- The requisite details as specified in Clause (B) of sub-rule 2 of rule 3 of Income Tax Rules 1962 were not maintained by the assessee - the value of perquisite provided by the assessee company to its employees in the form of reimbursement of car running and maintenance charges was chargeable to tax in their hands and the assessee was liable to deduct tax at source from the said value. Since there was failure on the part of the assessee company to deduct tax at source from the value of the said perquisite, we are of the view that it was rightly treated by the A.O. as the assessee in default for such non or short deduction of tax at source under section 201(1) and interest under section 201(1A) was also correctly charged in accordance with law. - Decided against assessee.
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