Tax borne by employer on perquisites of employees would constitute non-monetary benefit and is exempt u/s 10(10CC)

RELEVANT EXTRACTS 4. In view of the decision of the Special Bench in the above referred case, we hold that the tax borne by the employer on perquisites of the employees would constitute non-monetary benefit and as such the same is exempted u/s 10(10CC) of the Act. We, therefore, reverse the order of the authorities below on this point and allow the assessee’s claim that the tax paid by the employer in respect of salary paid to the aforesaid assessees would constitute non-monetary perquisite eligible for exemption u/s 10(10CC) of the Act. In other words, the assessee’s claim of exem...