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2020 (3) TMI 1140

..... natural justice - HELD THAT:- Relevant details of the expenses claimed under the head travelling and conveyance were duly furnished by the assessee during the course of appellate proceedings before the CIT(Appeals) to show that the said expenses did not accrue any fringe benefit directly or deemingly to any person. CIT(Appeals) did not accept this claim of the assessee on the ground that any supporting voucher or documentary evidence to support and substantiate the said claim was not produced by the assessee-company. It appears that the CIT(Appeals), however, did not give any opportunity to the assessee to produce the relevant supporting evidence to substantiate its claim and rejected the claim of the assessee without giving such opportunit .....

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..... 7; 55,08,670/-. (4) Nicco Corporation Limted computed fringe benefit ₹ 132.02 lakhs and paid FBT ₹ 45.32 lakhs, which included travelling foreign ₹ 29.40 lakhs. (5) Assessing Officer was erred in ignoring computation sheet of fringe benefit prepared by Nicco Corporation Ltd. . 2. The assessee in the present case is a Company, which is engaged in the business of manufacturing of electric cables, conductors and wires galvanize steel tapes etc. The return of income for the year under consideration was filed by it on 09.01.2009 disclosing total fringe benefit value at ₹ 1,32,01,699/-. During the course of assessment proceedings, the assessee-company was required by the Assessing Officer to furnish item-wise calculation c .....

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..... value under the head conveyance and tour and travelling . During the course of appellate proceedings before the ld. CIT(Appeals), the details of travelling and conveyance expenses amounting to ₹ 579.86 lakhs were furnished by the assessee and it was contended that the said expenses incurred by the assesese-company did not accrue any fringe benefit directly or deemingly to any person. This contention raised on behalf of the assesee-company was not found acceptable by the ld. CIT(Appeals) in the absence of any supporting vouches or documentary evidence produced by the assessee to support and substantiate the same. He accordingly proceeded to confirm both the additions made by the Assessing Officer to the fringe benefit value under the h .....

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