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2015 (7) TMI 1022 - AT - Income TaxFringe benefit tax u/s 115WE - VALUE OF FRlNGE BENEFITS ON ACCOUNT OF EXPENSES RELATED TO AIRCRAFTS - Held that:- On the contention of the assessee that there is no consideration for employment, we find that the assessee had submitted before the CIT(A) that there is a possibility of the aircraft having being used for benefit of the employees. When the assessee admits of a possibility of the air craft having been used for the use of benefit of employee, to plead otherwise at this stage cannot be countenanced. The assessee has not provided any evidence in support of this contention. The assessee has in the earlier assessment years, consistently filing FBT returns and paying tax on the very same expenditure. During the current year, the assessee has originally filed a FBT return and offered the sum in question to tax. It was only thereafter a revised return is filed making a claim specifically for exemption u/s 115WC(2)(f). Now that the assessee has conceded that it is not eligible for exemption u/s 115WC(2)(f), the amount declared in the return of income before claiming this exemption will become taxable. - Decided against assessee.
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