ABC Pvt. Ltd. company has incurred some expenses in FY 2008-09 on which FBT was payable. But co. did not pay any FBT or paid lower rate of FBT (5% instead of 20%) on such expenses. My Question is whether Assessing officer can disallow that expenses on which FBT is not paid or paid with lower rate of tax (5% instead of 20%)
CAclubindia
