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TMI Blog2013 (1) TMI 781X X X X Extracts X X X X X X X X Extracts X X X X ..... on certain expenditure -club membership fees - Held that:- “Fringe benefit” cannot arise when expenditure is incurred on persons who are not employees - club membership fee, the payments made to LIMRA and Actuarial Society of India, are to be excluded as they are not payments to clubs - the issue is restored back to the file of AO for adjudication afresh - allowed for statistical purposes - ITA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /2010 in the case of Kotak Mahindra Old Mutual Life Insurance Ltd., for A.Y. 2006-07 wherein the Tribunal while discussing the levy of FBT on deeming provision of Sec. 115WB(2) which provides for certain expenditures incurred by the employer, fringe benefit are deemed to have been provided by the employer to his employee. The Tribunal at para-10 held as under: 10. Sub-section (2) of section 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fit. On the issue of expenditure incurred on conference and meetings, the AO shall consider bifurcation submitted to him with respect to the expenditure incurred on the agents and brokers and pass appropriate orders. Fringe benefit cannot arise when expenditure is incurred on persons who are not employees. On the issue of club membership fee, the payments made to LIMRA and Actuarial Society of I ..... X X X X Extracts X X X X X X X X Extracts X X X X
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