9911796707
TMI Blog2014 (1) TMI 134X X X X Extracts X X X X X X X X Extracts X X X X ..... ection 260-A of the Income Tax Act against the order dated 18th January, 2002 passed by the Income Tax Appellate Tribunal, Delhi has been admitted on the following substantial question of law: "Whether on the facts and in the circumstances of the case, the Tribunal is justified in estimating the perquisite value of the house allotted to the assessee,, ignoring the relevant provisions of law as co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... maintenance of the building on estimated basis, at Rs. 22,000/-, deprecation of the building claimed by the Company at Rs. 51,115/-, House Tax at Rs. 540/-, and electricity cost at Rs. 12,257/-. In appeal the Commissioner of Income tax (Appeals)-I, Meerut deleted the entire addition on the ground that the assessee was not an employee of the Company and hence no perquisite value of rent free accomm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r preferred an appeal before the Tribunal. The Tribunal by the impugned order had restricted the addition to Rs. 30,497/- (wrongly mentioned by the Tribunal as Rs. 24,797/-)by taking value of benefit for the house provided by the Company at Rs. 18,000/-, House Tax at Rs. 540/- and Electricity expenses at Rs. 12,257/-. The Tribunal determined the said figure on the ground that the company had not i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the house. The submission is wholly misconceived. It has come on record that the assessee was not drawing any salary frm the Company and other Directors were being paid salary of Rs. 10,000/- per month. There is nothing on record to show that annual letting value of the house in the neighbourhood is higher than what has had been fixed for the house provided by the Company to the assessee. Only h ..... X X X X Extracts X X X X X X X X Extracts X X X X
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