Fringe Benefits Tax is Allowable as Deduction in Computing Book Profit as per Section 115JB of Income Tax Act: ITAT [Read Order]

Fringe- Benefits- Tax - Allowable - Deduction -Computing -Book- Profit- Income -Tax- Act-ITAT-TAXSCAN

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that according to CBDT vide Circular No. 8/2005, the fringe benefit tax is an allowable deduction in computing book profit as per Section 115JB of the Income Tax Act, thus restored the issue involved to the file of the Commissioner of Income Tax Act [CIT(A)]….

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