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2015 (7) TMI 170 - ITAT MUMBAIPerquisite value for provision of accommodation at concessional rent - income from salary - difference between the market rent and the rent actually paid by the assessee is a perquisite within the meaning of section 17(2)(ii) or a benefit within the meaning of section 2(24)(iv) - CIT(A) appreciating the fact that the assessee has been residing in the bungalow by paying a meager rent in his capacity as a Chairman because of the existence of employer-employee relation and not as a protected tenant, th8s deleted addition - Held that:- After considering the assessee’s reply with respect to each and every aspect, the ld. CIT(A) recorded his findings that the assessee was occupying house as per the independent rent agreement for which the assessee was paying standard rent and no benefit accrued to the assessee in his capacity of employee, when the assessee was independently receiving the HRA from his employer for not providing the accommodation. The findings recorded by the ld. CIT(A) are as per the material available on record which has not been controverted by the Department. The conclusion drawn in the impugned order of the ld. CIT(A), discussion made in the assessment order, contentions of the ld. Counsel for the assessee & Revenue, and material available on record are kept in justaposition and analyses, we find that no benefit accrued to in the hands of the assessee in the form of perquisite. Accordingly, we do not find any reason to interfere with the findings recorded by the ld. CIT(A) which resulted into the deletion of addition made on account of perquisite in the hands of the assessee. - Decided against revenue.
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