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The ACIT, Circle-2 (2) (1) , International Taxation, New Delhi Versus Shri Puneet Mahajan, C/o. General Electric International Inc. Gurgaon

Exemption 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 trea .....

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oyees 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 - ITA. No.6079/Del./2015 - Dated:- 1-9-2017 - SHRI BHAVNESH SAINI, J.M. AND SHRI O.P. KANT, A.M. For The Revenue : Shri M. Barnwal, Sr. D.R. For The Assessee : Non .....

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se, the Ld. CIT(A) has erred in determining payment of tax, payable on salaries of the employees by employer is to be excluded from the income of the employees under section 10(10CC) of the Act, even after determining the such payment as monetary in nature and considering the same as exempted under section 10(10CC), which exempts only non-monetary payments. 2. Briefly the facts of the case are that during the course of assessment proceedings, from the computation of income received from General .....

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at ₹ 83,52,944 and the balance amount of ₹ 70,22,825 has been added to the income. The A.O. issued a show cause notice to the assessee as to why the claim of exemption under section 10(10CC) may not be denied as tax paid by the employer is a monetary benefit arising to the assessee. The assessee submitted before A.O. that the primary issue being whether tax paid by the employer is a perquisite not provided by way of a monetary payment and hence, would qualify for exemption under sec .....

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er confirmed by the Hon ble Uttarakhand High Court in its decision dated 30th July, 2012 in the case of Sedco Forex International Drilling Inc. & Others (TS-603-HC- 2012 (UTT) ] as well as the ruling dated 31st July, 2013 issued by Hon ble Delhi High Court in the case of CIT vs. Yushio Kubo and others. The A.O. however, noted that department has not accepted these decisions and SLPs are pending. The A.O. accordingly disallowed the exemption under section 10(10CC) of the Act and made addition .....

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der are reproduced as under : Findings/Determination: 4.1 The Assessing Officer has noted while analyzing the amendment and legislative history regarding introduction of Section 10 (10CC), at Para 3.1 last portion thereof:- From the above legislative history regarding introduction of Section 10(10CC) in the Income-Tax Act, it is inferred that the perquisites in respect of which the provisions of Section 10(10CC) have been introduced are the perquisites which need to be valued according to the ba .....

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ed that :- • Section 200 of the Companies Act, 1956 prohibits companies from paying remuneration free of income-tax. However, tax-free remuneration is different from payment of remuneration as well tax payable thereon. • Section 10(10CC) of the Act has provided that despite the provisions of section 200 of Companies Act, 1956, an employee shall be entitled to exclude from his total income, the tax paid by employer on. perquisites, within the meaning of section 17(2) of the Act, not pro .....

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