Daily Archives: November 13, 2026

Rule 3(7)(i) and Section 17(2)(viii) Upheld; SBI Rate Benchmark for Concessional Loans Valid

By | November 13, 2026

Rule 3(7)(i) and Section 17(2)(viii) Upheld; SBI Rate Benchmark for Concessional Loans Valid Issue Whether Section 17(2)(viii) of the Income-tax Act, 1961 (corresponding to Section 16 of the Income-tax Act, 2025) and Rule 3(7)(i) of the Income-tax Rules, 1962 (corresponding to Rule 15 of the Income-tax Rules, 2026) are constitutionally valid, within permissible delegation limits,… Read More »

Constitutional Validity of Rule 3(7)(i) Upheld; Perquisite Valuation for Concessional Loans Remains Valid

By | November 13, 2026

Constitutional Validity of Rule 3(7)(i) Upheld; Perquisite Valuation for Concessional Loans Remains Valid Issue Whether Rule 3(7)(i) of the Income-tax Rules, 1962, relating to the valuation of interest-free or concessional loans as perquisites under Section 17 of the Income-tax Act, is unconstitutional and ultra vires. Facts The petitioner filed a writ petition before the High… Read More »