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2017 (8) TMI 738 - AT - Income TaxAddition u/s 40(a)(v) - ‘Tax’ on ‘Tax perquisite’ - admissible expenses in the hands of the employer - Held that:- The exemption under section 10(10CC) of the Act is not applicable as the tax borne by employer has already been grossed up. Moreover, exemption under section 10(10CC) of the Act has also not been claimed by the assessee. The assessee has paid tax on tax and not claimed exemption under section 10(10CC) of the Act. Therefore, in our view, there can not be any disallowance under section 40(a) (v) of the Act, and hence we confirm the order of ld CIT(A). Addition on account of interest on fixed deposit - Held that:- As limited request of assessee is for a direction to direct the AO that if the same income is taxed in the succeeding year on receipt basis then the same should be deleted in previous year, in which it had been taxed based on accrual, to avoid double taxation, we agree with the submission of ld AR and we direct the Assessing Officer to delete the interest income if the same income is offered to tax by the assessee in the succeeding assessment year. Therefore, we allow CO.No.1 for statistical purposes.
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