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TMI Blog2018 (8) TMI 1717X X X X Extracts X X X X X X X X Extracts X X X X ..... ts at Rs. 74,16,789/- as against the Returned Fringe Benefits of Rs.Nil offered by the appellant. 2. The learned Commissioner of Income Tax (Appeals) has erred in law and facts in charging interest under section 115WJ of the Income Tax Act, 1961 on the assessed tax liability. 3. The learned Commissioner of Income Tax (Appeals) has erred in law and on facts in confirming the initiation of penalty proceedings under section 271(l)(d) of the Income Tax Act, 1961 for the alleged concealment and/or furnishing of inaccurate particulars of income. 4. The appellant craves leave to add to, alter, delete or modify any of the grounds of appeal either before or at the time of hearing of this appeal." 3. The ld.counsel for the assessee at the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ring the course of appellate proceedings has not filed any details and evidences which could show that the items of business expenditure which have been incurred in the case of appellant are only with relation to nonemployees and do not relate in any manner to the employees of the appellant and which though having been incurred, but being purely for the business purpose of the appellant and thus is not resulting in any benefit to the employees. The AR of the appellant was required to file necessary details and evidences in support of his above statement. This is more particularly in view of the fact that the AO in the above order u/s 115WE(3) r.w.s. 115WG of the IT Act has mentioned that the books of accounts of the appellant were examined ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or AY 2007-08 in the case of the appellant company vide order No. CAB-f/88/09-10 dated 28/04/2010. Moreover, the appellant itself has deposited the amount of FBT in the Government Treasury for the year under consideration. Again the final verdict of Hon'ble High Court of Gujarat is yet to be passed. Considering all these facts, I hold that the AO has correctly taxed the value of fringe benefit of Rs. 74,16,789/- and therefore the same is taxed. Thus, the ground of appeal no2 of the appellant is dismissed." 6. In view of the above and the order of the ITAT passed in the case of Gujarat Energy Transmission Corpn. Ltd. (supra) dated 27.6.2018 Gujarat Urja Vikas Nigam Ltd. (supra), we are of the view that the ld.CIT(A) has rightly confirm ..... X X X X Extracts X X X X X X X X Extracts X X X X
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