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2017 (9) TMI 469 - AT - Income TaxExemption under section 10(10CC) - determining that payment of tax, payable on salaries of the employees by employer is to be excluded from the income of the employees - whether “tax paid by the employer” is a perquisite “not provided by way of a monetary payment”? - Held that:- Section 10(10CC) provides an exemption from multiple grossing-up of tax paid by the employer whereby the same is added only once to the income of the employees and the “tax-on-tax” being a non-monetary perquisite is treated as exempt as per section 10(10CC). This issue had already been decided in favour of the assessee by the decision of the Special Bench of Delhi Tribunal in the case of RBF Rig Corporation (2007 (11) TMI 334 - ITAT DELHI-F). The issue stands covered in favour of the assessee by in the case of Sedco Forex International Drilling Inc. & Others (2012 (8) TMI 426 - Uttarkhand High Court) as held payment of tax on account of salaries of the employees not by way of monetary payment to the employees concerned, but for or on their account to the Department and the same being one of the perquisites included in Section 17(2), such payment was to be excluded from the income of the employees. Merely because SLP of the department is pending before the Hon’ble Supreme Court is no ground to take a contrary view against the assessee
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