2002 (1) TMI 25 - HC - Income Tax

Summary

The High Court of Rajasthan ruled that the assessee was entitled to a standard deduction of Rs.1,000 only, not Rs.2,500 as claimed. The provision of a car to the assessee by the employer was considered a perquisite under section 17 of the Income-tax Act, with a deduction limit of Rs.1,000. The court upheld the Tribunal's decision, ruling in favor of the Revenue and against the assessee.