2014 (6) TMI 696

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.... S.K. Tyagi For the Respondent : Shri Sanjeev Jain ORDER   Per Dr. S. T. M. Pavalan: These Appeal and the cross objection filed respectively by the Revenue and the Assessee are directed against the order of the Ld.CIT(A)-2, Mumbai dated 06.12.2012 for the Assessment Year 2006-07. 2. In the appeal filed by the revenue, the revenue has raised the following grounds:- "1. Whe....

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....inal assessment was completed u/s 115WE(3) determining the total value at Rs.58,14,856/-. Thereafter, the assessment was reopened and the AO completed the reopened FBT assessment and added the following amounts with the total value of Fringe Benefits in the return: (i) On account of subsidized transport of Rs.2,42,87,175/- and (ii) On account of conveyance expenses of Rs.45,13,848/-. On appeal, th....

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....06 issued by way of explanatory note on the provision of Finance Act 2006 reads as follows:- "To specifically exempt expenditure of employers, incurred on the to and fro journeys from residence to office of their employees, from the provisions of this tax, sub-section 3 of section 115WB has been amended to provide that any benefit or amenity in the nature of free or subsidized transport or any ....

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....ision and thus the same is upheld. 5. As regards the second issue whether the assessee is entitled to include only 5% of the conveyance expenses for FBT purposes, it is pertinent to mention that the Ld.CIT(A) has noted that out of the gross income of Rs.271,56,55,082/-, the assessee has earned Rs.269,19,26,534/- from BPO services. This particular fact establishes that the assessee has to be con....