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2014 (3) TMI 628 - AT - Income TaxLevy of FBT - Nexus between levy of FBT to the employees - Whether the CIT(A) erred in confirming the order of AO levying Fringe Benefit Tax in respect of expenses not related to employees and their families – Held that:- The AO has estimated Fringe Benefit amount at 20% of the expenditure - He has not brought any material on record to show that the above expenditure gave any benefit to the employees of the assessee company - In absence of any such nexus being proved by the Assessing Officer, levy of Fringe Benefit Tax on the expenditure is not warranted – Relying upon M/s. Toyota Kriloskar Motor Pvt Ltd. vs. ACIT [2012 (6) TMI 484 - ITAT, Bangalore] the levy of Fringe Benefit Tax is set aside – Decided in favour of Assessee.
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