Valuation of car - owned by employer - owned by employee, Income Tax

[GOPALJI AGRAWAL]

1.Please opine what will be the valuation of car if it is owned by employer and used by the employee for personal purposes and exenses are met out only by employee himself. 2.If the car is owned by employee and used for pursonal purposes only and expenses are directly met out by employer?

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[Surender Gupta]

(iv) any sum paid by the employer in respect of any obligation which, but for such payment, would have been payable by the assessee;