Benefit availed by director in purchasing property at a lesser value than Market Value May be Taxed as Perquisites in his hand

ITAT MUMBAI BENCH ‘E’ Smt. Sarita S. Mantri versus Assistant Commissioner of Income-tax IT Appeal NO. 6394 (Mum.) OF 2011 [ASSESSMENT YEAR 2009-10] DECEMBER  12, 2012 ORDER D. Karunakara Rao, Accountant Member This appeal filed by the assessee on 16.9.2011 is against the order of the CIT (A)-40, Mumbai dated 27.8.2011 for the assessment year 2009-2010. 2. In this appeal, assessee raised the following grounds which read as under: “1. On the facts and circumstances of the case and in law, Ld CIT (A) erred in confirming the addition of Rs. 53,57,600/- as per...