1991 (3) TMI 38 - HC - Income Tax

Summary

The High Court upheld the Tribunal's decision to confirm the enhancement of perquisite for the use of residential accommodation provided to the assessee by a company. The assessee, a director of the company, received free furnished accommodation in Bombay, which was valued at Rs. 17,574 and added to his income. The court found no legal issue with the valuation and ruled in favor of the Revenue.