Addition on account of income tax on perquisite while computing ...

Non-monetary employee perks included in book profit u/s 115JB are disallowed u/s 40(a)(v) of the Income Tax Act.

August 5, 2019

Case Laws Income Tax AT

Addition on account of income tax on perquisite while computing book profit u/s 115JB - non-monetary perquisites provided to employees forms part of Employee Benefit cost and akin to FBT since they are certainly not below the line items since the same are expressively disallowed u/s 40(a)(v) and the same do not constitute Income Tax for the assessee in terms of Explanation-2 - hence no disallowance

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Addition on account of income tax on perquisite while computing ...

Non-monetary employee perks included in book profit u/s 115JB are disallowed u/s 40(a)(v) of the Income Tax Act.

August 5, 2019

Case Laws Income Tax AT

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