Contact us   Feedback   Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

2015 (9) TMI 1396 - BOMBAY HIGH COURT

2015 (9) TMI 1396 - BOMBAY HIGH COURT - TMI - Applicability of section 115WB - Fringe Benefit Tax - ITAT held that Fringe Benefits cannot arise when the expenditure is incurred on non-employees - Held that:- Tribunal has allowed the respondent's appeal by following its decision in case of Kotak Mahindra Old Mutual Life Insurance Ltd (2011 (11) TMI 497 - ITAT MUMBAI ) for Assessment year 2006-07 and restored the issue to the Assessing Officer for fresh determination. Mr.Kotangale learned counsel .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

tangale i/b Ms.Padma Divakar Advocates For the Respondent; Mr.F.V.Irani with Mr.A.K.Jasani Advocates P.C. The revenue in these three appeals have under Section 260A of the Income Tax Act, 1961 (the Act) assailed the common order dated 16th January 2013 of the Income Tax Appellate Tribunal (Tribunal). The impugned order is passed for A.Y.2006-07, A.Y.2007-08 in respect of M/s Kotak Mahindra Bank Ltd and for A.Y.2006-07 in respect of M/s Kotak 2. The revenue has urged in these appeals the followin .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

acts and in the circumstances of the case and in law the Hon'ble Income Tax Appellate Tribunal was justified in law in holding that expenses which are specifically mentioned in section 115WB (2) can be reduced from the valuation of fringe benefit if they have not been incurred for employees without appreciating that the CBDT Circular No.8 of 2005 categorically states that sub-section (2) is an extension of sub-section(1) of section 115JB of the Income Tax Act? 3 We find that the impugned ord .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version