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2012 (8) TMI 90 - ITAT INDOREDisallowance of contribution made to superannuation fund - the provision made towards pension fund was held to be liable for fringe benefit tax - Held that:- As per the amended provisions with effect from the assessment year 2007-08, the amount of contribution, referred in clause (c) of sub-section (1) of section 115WC, which exceeds Rs. 1 lac in respect of each employee, is to be taken into consideration for the purpose of valuing the fringe benefit tax - that the contribution to superannuation fund in present case being less than Rs. 1.00 lac per employee is not liable for fringe benefit tax - the matter is restored back to the file of AO to verify the actual payment of contribution which exceeds Rs. 1 lac in respect of each employee - in favour of assessee for statistical purposes
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