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2014 (10) TMI 578 - HC - Income TaxComputation of value of fringe benefits - Inclusion of expenses in the taxable value of fringe benefit - Assessee engaged in the business of growing, manufacturing and sale of tea – Held that:- Following the decision in CIT vs. Doom Dooma India Ltd. [2009 (2) TMI 9 - SUPREME COURT] - the amount of expenditure incurred by the assessee in extending fringe benefits to its employees was not solely for the purpose of business - The expenditure incurred is both for the purpose of business and for the purpose of agriculture - The provisions contained in Chapter XII H of the Income Tax Act have to be read subject to Section 10 of the Income Tax Act – the order of the Tribunal is to be set aside – Decided in favour of assessee.
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