2019 (2) TMI 814

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... For The Assessee : Shri T.S. Ajai, AR ORDER PER Smt. P. MADHAVI DEVI, J.M. : This is Revenue's appeal for the AY. 2009-10, against the order of the Commissioner of Income Tax (Appeals)-5, Hyderabad, dated 22-09-2017. 2. Brief facts of the case are that, assessee-company, engaged in the business of manufacture of sale of cigarettes and trading of tobacco, filed its return of Fringe Be....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ount paid to the employees under the Voluntary Retirement Scheme during the FY. 2006-07, relevant to the AY. 2007-08 and which was claimed as deduction u/s. 35DDA of the Act. Therefore, according to the assessee, it was not a contribution to the Superannuation Fund and cannot be treated as a fringe benefit. Assessing Officer, however, held that Voluntary Retirement Scheme is also covered under the....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Scheme without appreciating the principle that the provision made for VRS Scheme is also covered under the ambit of Superannuation Fund which attracts Fringe Benefit Tax. 3. Any other ground that may be urged at the time of hearing." 3. While Ld.DR supported the order of the Assessing Officer, Ld. Counsel for the assessee relied upon the order of the CIT(A). 4. Having regard to the....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....issioner or Chief Commissioner or Principal Commissioner or Commissioner in accordance with the rules contained in Part B of the Fourth Schedule; 4.1. Fringe Benefits are defined u/s. 115WB of the Act Clause-C of Section-1 thereof refers to - any contribution by the employer to an approved superannuation fund for employees ; 4.2. In the case before us, the payment made towards Voluntary Reti....