https://www.taxtmi.com/caselaws?id=459864 Expenditure incurred by an employer to supply electricity to employees under the National Coal Wages Agreement was treated as arising from a binding settlement with statutory force, so it fell within the exclusion for statutory obligations under the Explanation to Section 115WB(2)(E) of the Income-tax Act, 1961. The electricity benefit was therefore not characterised as employees' welfare expenditure and was not exigible to fringe benefits tax. The same exclusion was held applicable both before and after the amendment effective from 01.04.2009, resulting in relief for the assessee. en-us Thu, 15 Feb 2024 00:00:00 +0530 Tue, 31 Dec 2024 23:47:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459864 Expenditure incurred by an employer to supply electricity to employees under the National Coal Wages Agreement was treated as arising from a binding settlement with statutory force, so it fell within the exclusion for statutory obligations under the Explanation to Section 115WB(2)(E) of the Income-tax Act, 1961. The electricity benefit was therefore not characterised as employees' welfare expenditure and was not exigible to fringe benefits tax. The same exclusion was held applicable both before and after the amendment effective from 01.04.2009, resulting in relief for the assessee. Case-Laws Income Tax Thu, 15 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459864