Deduction towards fringe benefit tax available while computing book profits u/s 115JB

SICPA India Private Limited Vs ACIT (ITAT Delhi) ITAT Delhi held that fringe benefit tax is an allowable deduction in computing book profit as per Section 115JB of the Income Tax Act. Facts- The assessee filed return of income declaring income of Rs.17,65,38,023/- under normal provisions of the Act and book profit u/s. 115JB of Rs.56,41,92,385/-. The case was selected for scrutiny and assessment order came to be passed u/s. 143(3) of the Act. AO disallowed the claim of provision of Fringe Benefit Tax. CIT(A) also disallowed the claim of Fringe Benefit Tax in computing book profits u/s. 115JB. ...