Tax paid by employer on behalf of employee is a non-monetary perquisite subject to single grossing up

The Income-tax Appellate Tribunal, Delhi held that the tax paid by employer on the behalf of employees should be considered as a non-monetary perquisite in the hands of the employees for the purpose of claiming an exemption under section 10(10CC) of the Income-tax Act, 1961 (‘the Act’).  Facts of the case M/s Triton Holdings Limited (‘the employer’) paid income-tax on the behalf of its employees on the salary payment to them (‘tax perquisite’). In the return of income filed by the employees, the tax perquisite was considered as a non-monetary perquisite and accordingly, an exempt...