2003 (10) TMI 41

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..... constitute a perquisite under section 17(2)(iii) and therefore their value cannot be added to the salary income of the technician. Consequently, the Department cannot levy interest on Hyundai Heavy Industries Co. Ltd. (employer) under section 201/201(1A) - - - - - Dated:- 14-10-2003 - Judge(s) : S. H. KAPADIA., M. M. GHILDIYAL. JUDGMENT The judgment of the court was delivered by S.H. KA .....

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..... ich took the view that in the quantum appeals it has been held that free boarding on the rigs was not a perquisite under section 17(2)(iii) and those decisions have not been challenged by the Department and therefore interest under section 201(1A) of the Income-tax Act was not leviable on Hyundai Heavy Industries Co. Ltd. Being aggrieved by the decision of the Tribunal, the Department has come by .....

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..... me-tax Act to Hyundai Heavy Industries Co. Ltd.--assessee to show cause why interest should not be levied under section 201(1A) of the Act from the date of deduction of tax deducted at source till payment. On that notice the Assessing Officer passed an order on July 21, 1999, under section 201(1A) of the Income-tax Act charging interest on Hyundai Heavy Industries Co. Ltd. (employer) for short pay .....

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..... the facts and in the circumstances of the case, the learned Income-tax Appellate Tribunal was legally correct in holding that no perquisite arose on account of free accommodation facility provided by the employer to its employees and the Assessing Officer was not justified in charging interest under section 201/201(1A) of the Income-tax Act?" Answer: For reasons given hereinafter we are answe .....

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..... e rigs cannot constitute a perquisite under section 17(2)(iii) and therefore their value cannot be added to the salary income of the technician. Consequently, the Department cannot levy interest on Hyundai Heavy Industries Co. Ltd. (employer) under section 201/201(1A) of the Income-tax Act. For the aforestated reasons all the above three appeals are dismissed with no orders as to cost. - - Ta .....

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