Court :
Income Tax Appellate Tribunal
Brief :
The present appeal is filed by the revenue against the ld. CIT(A)’s order dated 22.11.2010 passed in the matter of an assessment made by the Assessing Officer u/s 115WE(3) of the Income Tax Act, 1961 for the A.Y. 2006-07. The only ground raised by the revenue is directed against CIT(A)’s order in deleting the addition of Rs. 26,56,792/- made by the AO on account of telephone link expenses while determining the total amount of fringe benefit u/s 115WB of the Act.
The assessee filed Fringe benefit return on 30.11.2006 declaring value of Fringe benefits at Rs. 46,11,732/-. In the course of assessment proceedings, it was asked by the AO as to why the total expenditure under the head “telephone” (communication expenses) amounting to Rs. 6,73,93,740/- should not be treated as eligible for Fringe benefit tax as against sum of Rs. 46,07,979/- shown by the assessee
Citation :
ACIT, Circle 12(1),New Delhi. (Appellant) Vs M/s Global Vantedge (P) Ltd.,77B, IFFCO Road, Sector-18,Gurgaon, Haryana. AABCG 8076E (Respondent)
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