TTK HELATHCARE LTD.,CHENNAI vs. DCIT, CHENNAI

ITA 1589/CHNY/2014Status: DisposedITAT Chennai05 January 2016AY 2006-075 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that a provision for contribution to an approved superannuation fund, paid in the subsequent financial year, is not subject to Fringe Benefit Tax. The addition made by the Assessing Officer was directed to be deleted.

What were the facts?

The assessee company made a provision for superannuation fund contribution, which was paid in the subsequent financial year. The Assessing Officer included this provision in the valuation of fringe benefits for tax calculation.

What were the issues?

Whether a provision for superannuation fund contribution, paid in the next financial year, is includible for Fringe Benefit Tax calculation.

Which sections of the Income-tax Act were involved?

Section 115WE,Section 250,Section 115WB

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘A’ BENCH, CHENNAI

Before: SHRI CHANDRA POOJARI & SHRI G. PAVAN KUMAR

For Respondent: Shri. A.B. Koli, IRS, JCIT

PER G. PAVAN KUMAR, JUDICIAL MEMBER:

The appeal is filed by the assessee against the order of Commissioner of Income Tax (Appeals)-III, Chennai in ITA

No.894/2013-14, dated 30.1.2014 for the assessment year 2006-2007 passed u/s.115WE(3) and 250 of Income Tax Act, 1961 (in short the ‘Act’).

ITA No.1589/Mds/2014. :- 2 -:

The only substantive ground raised by the assessee in 2. appeal with regard to provision made towards Supera

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 115WE

All 68 judgments and leading authorities on Section 115WE →

Recent GST High Court judgments

Search GST case law →