Law:

Section:

Section 17(2)(vi) cannot be struck down as violative of any of constitutional provisions Section 17(2) of the Income-tax Act, 1961, read with rule 3 of the Income-tax Rules, 1962 and article 14 of the Constitution of India - Salaries - Perquisites - Whether in view of inclusive definition of term 'perquisite' contained in section 17(2) and also fact that said expression has been understood as an advantage or a benefit conferred to an employee, it cannot be said that section 17(2)(vi) should be struck down on ground that it confers unguided or uncontrolled power on rule-making authority - Held, yes - Whether, classification of Central Government and State Government employees on one hand and employees of public and private sector on other for purpose of determining value of perquisite with reference to accommodation provided to those employees by their employer cannot be said to be unreasonable or violative of article 14 - Held, yes - Whether if interest-free loan is provided or loan is provided at a concessional rate of interest by employer to employee certainly that would result in benefit of employee since he derives benefit by such concession and reduces his financial liability and therefore, it is income in his hands - Held, yes - Whether, therefore, interest-free loans or loans advanced at concessional rate of interest by employer to employee are to be treated as perquisite - Held, yes - Whether, however, unless and until suitable circulars are issued by CBDT the provisions should be read down and understood with a rider that rate provided in rule would be applicable unless assessee proves to satisfaction of Assessing Officer that rate of interest or any part thereof charged by employer does not amount to any concession or benefit having due regard to rate of interest charged for such type of loan by public financial institutions - Held, yes - Whether with regard to valuation of 'motor car perquisite', merely because a particular mode of proof is required, regarding journey to be undertaken by employee, which may be inconvenient or causing difficulty to employee is not a ground to nullify validity of a rule - Held, yes - Whether section 17(2)(vi) which…

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