2003 (2) TMI 13

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..... w Delhi, has referred under section 256(1) of the Income-tax Act, 1961, the following question for our opinion: "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in upholding the determination of the perquisite value of the accommodation, furniture, electricity and water at Rs. 5,784." The reference pertains to the assessment year 1981-82. The issue is wi .....

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..... ITR 673, wherein it was held that for determination of the market value of the perquisite provided to the assessee by way of rent-free accommodation, the basis had to be the standard rent fixed by the Rent Controller in respect of similar accommodation by another person under section 9 of the U.P. Urban Buildings (Regulation of Letting, Rent and Eviction) Act, 1972, we have affirmed the view take .....

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