KOTAK MAHINDRA CAPITAL CO. LTD,MUMBAI vs. DCIT RG 3(2), MUMBAI

सुनवधई की तधयीख / Date of Hearing : 19.7.2016 घोषणध की तधयीख /Date of Pronouncement : 26.7.2016 आदेश / O R D E R

Per RAJESH KUMAR, Accountant Member:

no.2 to 7 is against upholding the order of AO treating certain expenses such as business promotion expenses, gift expenses, telephone expenses, mobile expenses, travelling expense, conference and meeting expenses etc. are liable for levy of fringe benefit tax.

4. At the time of hearing the ld. AR vehemently submitted that the issue of FBT on the said expenses claimed was restored to the file of AO in its own case by the decision of co-ordinate Bench of the Tribunal in (AY-2006-07) and ITA No.8313/Mum/2011 (AY-2007- 08) dated 16.1.2013 for fresh adjudication in the light of the observations made by the Tribunal in ITA No.63/Mum/2010 (AY-2006-07) in the case of sister concern. A copy of the said order filed by the ld.AR of the assessee is taken on record. We find merit in the submissions of the ld.AR and find from the record available before us including the decision of the co-ordinate bench of the Tribunal wherein an identical issue has been restored to the file of the AO for fresh adjudication in the light of the decision of the rendered in ITA no.63/Mum/2010 (AY-2006-07). Relevant extract of the decision rendered in ITA No.7334/Mum/2010 and ITA No.8313/Mum/2011(supra) is reproduced below:

“6. We have carefully perused the orders of the lower authorities. We find force in the contention of the Ld. Counsel. Therefore, respectfully following the decision of the Tribunal in and 5151/M/10 (supra), we restore these issues back to the files of the AO for adjudication afresh in the light of the observations made by the Tribunal in ITA No. 63/M/10”