TMI Blog2013 (2) TMI 717X X X X Extracts X X X X X X X X Extracts X X X X ..... nk Ltd., have filed Five and Six Grounds of Appeals respectively. Grounds of Appeals are common in all the three appeals pertaining to nonchargeability of Fringe Benefit Tax (FBT), Mobile Phone Expenses, Conference and Meeting Expenses, Business Promotion Expenses and Travelling Expenses (domestic and foreign). The only difference in the Grounds of Appeals is of amounts of expenses incurred and value of FB. Details of expenses involved and value of FB are summarized in the below mentioned table: Head of Fringe Benefit Tax ITA No. 4139/M/11 AY. 2007-08 ITA No. 4140/M/11 AY. 2007-08 ITA No. 4141/M/11 AY. 2007-08 Mobile Phone Exp. Exp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Business Promotion. 2. The Appellant therefore, prays that the AO be directed to delete the addition of ₹ 11,18,687/- being value of fringe benefit on expenditure of ₹ 55,93,435/- for the purpose of calculating Fringe Benefit Tax (FBT). Ground No.II Telephone Mobile Phone Expenses 1. The CIT(A) erred in confirming an addition of ₹ 2,26,718/- being value of fringe benefit on expenditure of ₹ 11,33,589/- incurred by the Appellant on Mobile Phone Expenses. 2. The Appellant prays that the AO be directed to delete the addition of ₹ 2,26,718/- being value of fringe benefit on expenditure of ₹ 11,33,589/- for the purpose of calculating Fringe Benefit Tax (FBT) towards Mobile Phone Expen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Besides above mentioned Grounds, in the case of Kotak Mahindra Bank Ltd., (ITA No. 4140/Mum/2011), Ground with regard to Travel has been bifurcated under two headings as under: Ground No.III Travel Expenses 1. The CIT(A) erred in confirming an addition of ₹ 29,32,836/- being value of fringe benefit on expenses of ₹ 5,86,56,713/- incurred by the Appellant on travel expenses. 2. The Appellant prays that the AO be directed to delete the addition of ₹ 29,32,836/- being value of fringe benefit on expenditure of ₹ 5,86,56,713/- for the purpose of calculating Fringe Benefit Tax (FBT) towards travel. Ground No.IV Travelling Expenses Domestic Foreign 1. The CIT(A) erred in confirming an add ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 82,703/- for the purpose of calculating Fringe Benefit Tax (FBT) towards hotel boarding and lodging expenses. Details of dates of filing of FBT returns u/s. 115WC of the Income Tax Act, 1961 (Act), Values of FB, Dates of Assessments u/s. 115WE(3) of the Act, Assessed Value of FB can be summarized as under: ITA Nos. Date of FBT Return Value of FB as per Assessee Date of 115WE(3) Order Assessed Value of FB 4139 30-10-2007 24,81,797/- 23-07-2009 1,23,34,037/- 4140 30-10-2007 3,12,84,024/- 18-12-2009 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s held as under: We have carefully perused the orders of the lower authorities. We find force in the contention of the Ld. Counsel. Therefore, respectfully following the decision of the Tribunal in ITA Nos. 63/M10 and 5151/M/10 (supra), we restore these issues back to the files of the AO for adjudication afresh in the light of the observations made by the Tribunal in ITA No. 63/M/10 . Respectfully following the said order of the Tribunal, we restore back the matter to the file of the AO for deciding the issue-in-question after providing reasonable opportunity of hearing to the assessee. As a result, appeals filed by the assessees are allowed for statistical purposes. Order pronounced by A Bench at Mumbai on this 13th day of ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
