Inclusion of foreign salary for perquisite value of rent-free accommodation- ITAT remanded matter back to AO

Kimiyoshi Muto Vs DCIT (ITAT Delhi) The case of the assessee was re-opened under Section 147 of the Act on the ground that the assessee has shown perquisite under rent-free accommodation by considering only the Indian salary whereas, according to the Assessing Officer, he was required to compute perquisite value of rent-free accommodation by including foreign salary also. Clearly, facts that emerge are that assessee is an individual, resident at that particular time, employed by an Indian company. After those years when the ld. CIT (Appeals) issued the notices, it was apparent that the assesse...