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Deputy Commissioner Of Income Tax Versus M/s Max Newyork Life Insurance Co Ltd

2015 (7) TMI 443 - ITAT DELHI

Exemption u/s 115WB - Fringe benefits Tax - FBT - Disallowance of expenses - Held that:- CIT(A) has observed that the action of the AO in treating the entire amount of expenses booked under the second category was not justified as these expenses were primarily in respect of car hire facilities for the employees during the weekends for which a separate arrangement was made as a regular shuttle service from home to office and back. - CIT(A) has further observed that as distinct from the regular fa .....

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acilities. - CIT(A) has rightly held that 75% of the expenses booked in the category 2 in respect of which disallowance was made by the AO could be attributed to the facility of commutation offered by the assessee to its employees from home to office and back and hence were exempt under the Exemption Clause under section 115WB(3). In view of above, we are of the view that the Ld. CIT(A) has rightly confirmed the addition to the extent of 25% of such expenses - No infirmity in impugned order - De .....

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d. CIT(A) has erred in holding that 75% of the expense in respect of which disallowance was made by the AO were exempt u/s. 115WB(3) of the I.T. Act. 2. The appellant craves leave to add to, alter, amend or vary from the above grounds of appeal at or before the time of hearing." 2. The facts narrated by the Revenue are not disputed by both the parties, hence, need not to repeat the same here for the sake of brevity. 3. Ld. DR relied upon the order passed by the AO and also reiterated the co .....

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th the counsel and perused the relevant records available with us, especially the order passed by the Ld. CIT(A). We find that the Ld. CIT(A) has observed that the action of the AO in treating the entire amount of expenses booked under the second category was not justified as these expenses were primarily in respect of car hire facilities for the employees during the weekends for which a separate arrangement was made as a regular shuttle service from home to office and back. We find that the Ld. .....

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