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2013 (5) TMI 372 - AT - Income TaxExpenses on account of sales promotion - whether be charged under FBT? - Held that:- When there is no direct or indirect benefit accrued to the employees of the assessee, the provisions of FBT cannot be invoked. See H.V. Transmissions Limited vs. ACIT, I [2013 (5) TMI 371 - ITAT MUMBAI] & DCIT vs. M/s. Tata Asset Management Ltd [2012 (6) TMI 137 - ITAT MUMBAI] wherein held that the charge to FBT is dependent on enjoyment of benefit collectively by the employees as clarified by CBDT’s circular No.8 dated 29.08.2005 which is totally missing in the present case of brand equity payment and hence cannot be subjected to FBT - In favour of assessee.
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