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TMI BlogTaxation of Employee Benefits: TDS on value of accommodation provided to the employees at the rate of 15 percent of salaryX X X X Extracts X X X X X X X X Extracts X X X X ..... Indian Institute of Technology Delhi, as recorded in the 2024 (1) TMI 607 - AT judgment, presents a nuanced understanding of the perquisite value of rent-free accommodation provided to employees of autonomous institutions. This case unfolds within the broader context of taxation laws, specifically concerning the applicability of perquisite taxation under the Income Tax Act of 1961. Background an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Findings The initial response from IIT Delhi was an appeal against the ACIT's order. The Commissioner of Income Tax (Appeals), relying on a precedent set by the Tribunal's Guwahati Bench in a similar case involving IIT Guwahati, ruled that there was no perquisite value of rent-free accommodation provided to employees, leading to the deletion of the demand. The Revenue, dissatis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the Supreme Court judgment in the case of Indian Institute of Science vs. DCIT, emphasized that an autonomous institution of the Government cannot be equated with Central/State government employees for the purpose of Rule 3 under the Income Tax Act. Judicial Deliberation and Ruling After careful consideration, the tribunal noted that while IIT Delhi does not qualify as a Central ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al dismissed the Revenue's appeal, maintaining the stance that no perquisite tax was applicable in this scenario. Implications and Significance This judgment holds significant implications, particularly for autonomous educational institutions in India. It underscores the importance of nuanced interpretation and application of taxation laws, especially in contexts where institut ..... X X X X Extracts X X X X X X X X Extracts X X X X
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