2001 (12) TMI 9

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..... irecting that the value of the perquisite in the shape of rent-free accommodation be limited to the value fixed by the prescribed authority under section 9 of the U.P. Urban Buildings (Regulation of Letting, Rent and Eviction) Act, 1972, for the assessment year 1971-72?" - held that when the property belonging to the company is allowed to be used by a director, then even though it may not be a cas .....

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..... year 1971-72?" From the order passed by the Income-tax Appellate Tribunal it appears that the standard rent fixed under the provisions of the Rent Control Act had been considered to be the perquisite given to the assessee herein by way of rent-free house accommodation. The matter appears to be covered by a Division Bench decision of this court in CIT v. M.K. Modi [1993] 200 ITR 673 where this co .....

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