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June 2024

Glimpses of Supreme Court Rulings

By Kishor Karia, Chartered Accountant | Atul Jasani, Advocate
Reading Time 11 mins

3 All India Bank Officers’ Confederation vs. The Regional Manager, Central Bank of India and Ors.

Civil Appeal Nos. 7708 of 2014, 18459 of 2017, 18460 of 2017, 18462 of 2017, 18463 of 2017, 18461 of 2017, 18464 of 2017, 18465-18466 of 2017, 18457-18458 of 2017 and 18467 of 2017

Decided On: 7th May, 2024

Does Section 17(2)(viii) and / or Rule 3(7)(i) lead to a delegation of the ‘essential legislative function’ to the CBDT? — The subordinate authority’s power under Section 17(2)(viii), to prescribe ‘any other fringe benefit or amenity’ as perquisite is not boundless, it is demarcated by the language of Section17oftheAct—Anything made taxable by the rule-making authority under Section 17(2)(viii) should be a ‘perquisite’ in the form of ‘fringe benefits or amenity’ — The enactment of subordinate legislation for levying tax on interest free / concessional loans as a fringe benefit is within the rule- making power under Section 17(2)(viii) of the Act

Is Rule 3(7)(i) arbitrary and violative of Article 14 of the Constitut

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