Board circular which provides that even the indirect expenditure which benefit employees’ welfare is covered under FBT is not applicable

Karnataka Power Transmission Corporation Ltd. Vs DCIT (ITAT Bangalore)- Whether the expenditure incurred on repair and maintenance of residential quarters of the staff which were owned by the assessee company can be treated as a benefit given to the employees and is covered under clause (E) of subsection (2) of section 115WB relating to employees’ welfare– Whether the Board circular which provides that even the indirect expenditure which benefit employees’ welfare is covered under FBT is not applicable as the expenditure incurred by the assessee to upkeep its assets doesn’...