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3. The facts leading to filing of the appeal briefly stated are that the assessee engaged in the running of a plastic industry at Daman, was assessed u/s 143(3) on 24.11.2008 at total income at Rs. 76,94,480/- as against the returned income of Rs. NIL. Subsequent to this, the assessment was reopened on the Mamania Family Trust reasoning that the assessee is AOP/BOI by its status as it was running a plastic industry. It was stated that the assessee has provided facility like staff welfare expenses of Rs. 4,22,899/-, travelling & Conveyance expenses of Rs. 4,85,780/-, vehicle expenses of Rs. 23,25,760/-, postage & telephone expenses of Rs. 1,32,090/- and contribution to PF of Rs. 18,72,502/-. The assessee was then required to file its return of fringe benefit u/s 115WD, but failed to do so for the year under consideration. In response to the notice u/s 115WH of the Act dated 27.03.2012, the assessee vide letter dated 18.07.2012 requested to treat the original return filed u/s 139(1) of the Act as revised return. As the issue involved was fringe benefit tax, assessee's original return of income as revised return of income was not accepted. The AO then insisted the assessee to file return of fringe benefit in Form 3B which was then filed on 05.10.2012 declaring total value of fringe benefit at Rs. NIL. Subsequently, the assessment was completed u/s 115WE r.w.s 115WG of the Act determining the total value of fringe benefits at Rs. 25,45,810/-. The AO also concluded the status of assessee as AOP trust as against the contention of assessee that the trust is a private discretionary trust which ought to be regarded as an individual and not AOP and does not attract levy of FBT. The AO relied on the allotment of PAN to the assessee indicating the status as AOP. The assessee also alleged that the AO has not considered the deed of trust where assessee is a private discretionary family trust settled pursuant to an indenture dated 03.02.1999, where the beneficiaries of the trust are the two trustees, their respective Mamania Family Trust spouses and their lineal descendants and the spouses of such lineal descendants as well as the Hindu Undivided Families of the lineal descendants. The beneficiaries of the Trust do not come together with the object of carrying on business nor have they authorized the trustee to carry on any business. It was stated that the trustee derived their authority to carry on business not from the beneficiaries but from the settlor under the terms of the deed of trust.