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TMI Blog2007 (11) TMI 302X X X X Extracts X X X X X X X X Extracts X X X X ..... went by the cost of education for other students in the same school and took that as the perquisite value in the hands of the employee and levied tax on the assessee accordingly. - Rule 3(5) of the Rules, requires the Assessing Officer to determine the cost of education in a similar institution in or near the locality - Commissioner of Income-tax (Appeals) rightly held that on the basis of the acc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rule 3(5) of the Rules reads as follows: "3(5) The value of benefit to the employee resulting from the provision of free or concessional educational facilities for any member of his household shall be determined as the sum equal to the amount of expenditure incurred by the employer in that behalf or where the educational institution is itself maintained and owned by the employer or where free ed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -rule shall apply if the cost of such education or the value of such benefit per child does not exceed Rs.1,000 per month." 3. We find that the Assessing Officer did not apply his mind to the later part of rule 3(5) where the determination of the value of the perquisite is with reference to the cost of such education in a similar institution in or near the locality. Instead he went by the cost of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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