2015 (9) TMI 1396

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....e i/b Ms.Padma Divakar Advocates For the Respondent; Mr.F.V.Irani with Mr.A.K.Jasani Advocates P.C. The revenue in these three appeals have under Section 260A of the Income Tax Act, 1961 (the Act) assailed the common order dated 16th January 2013 of the Income Tax Appellate Tribunal (Tribunal). The impugned order is passed for A.Y.2006-07, A.Y.2007-08 in respect of M/s Kotak Mahindra Bank....

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.... section 115WB (2) can be reduced from the valuation of fringe benefit if they have not been incurred for employees without appreciating that the CBDT Circular No.8 of 2005 categorically states that sub-section (2) is an extension of sub-section(1) of section 115JB of the Income Tax Act?" 3 We find that the impugned order of the Tribunal has allowed the respondent's appeal by following its ....