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2013 (10) TMI 79 - HC - Income TaxFBT - Amounts spent on “Hero Bumper Bonanza Foreign Trip and Attractive Gift”, a fringe benefit - Incentive are given to the distributors for meeting quantity target. – Held that:- A perusal of the statutory provisions, answers by the CBDT, to question nos.61 and 66 and due consideration of findings recorded by the Income Tax Appellate Tribunal, leave no manner of doubt that opinion recorded by the Income Tax Appellate Tribunal is legally correct and free from error. The distinction between the two situations, referred to in answers to questions No.61 and 66, may appear to be minimal, depending upon ones perception, but a careful perusal of these answers reveals that where incentives are given to distributors for meeting quantity target, the expenses fall within answer to question No.61, whereas free gifts to distributors and customers without any quantitative target, fall within answer to question No.66 – Decided against the Revenue.
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