ITAT not levied penalty on CA Firm for not paying FBT on traveling & conveyance Expenses of Articled Clerks

M/s. Gujrani & Co. Vs. Income Tax Officer (ITAT Kolkata) It is observed that the audit expenses of Rs. 5,19,238/- were claimed to be incurred by the assessee- company towards traveling and conveyance of the Articled Clerks, who were C.A. students receiving training from the assessee- firm. It was contended by the assessee during the course of assessment proceedings as well as during the course of penalty proceedings that there being no employer-employee relationship between the assessee- firm and the Articled Clerks, the audit expenses did not fall under the ambit of FBT. Although this cla...