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The Commissioner of Income Tax-3 Mumbai Versus M/s Kotak Mahindra Capital Co. Ltd, M/s Kotak Mahindra Prime Ltd.

2015 (9) TMI 1396 - BOMBAY HIGH COURT

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 .....

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peal filed from the order of the Tribunal in case of Kotak Mahindra Old Mutual Life Insurance Ltd (2015 (10) TMI 82 - BOMBAY HIGH COURT ) by the revenue to this Court being Income Tax Appeal No.674 of 2012 was dismissed by an order dated 22nd August, .....

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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 (Tribu .....

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n: (A) Whether on the facts and in the circumstances of the case and in law the Hon'ble Income Tax Appellate Tribunal was justified in law in holding that Fringe Benefits cannot arise when the expenditure is incurred on non-employees without appr .....

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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 .....

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