2012 (10) TMI 243 - HC - Income Tax

Review Application - Held that - Tax borne and paid by the employer has to be excluded while computing the perquisite of rent free accommodation - Application dismissed as no merit in review petition and application for condonation in filing and refiling. Refer CIT v. Telsuo Mitera 2012 (6) TMI 88 - DELHI HIGH COURT

Summary

The High Court of Delhi dismissed a review application regarding a tax appeal. The appeal was admitted to consider whether tax paid by the employer was exempt under section 10(10CC) of the Income-tax Act, but the issue raised related to the valuation of "rent free accommodation." The Court held that tax paid by the employer should be excluded while computing the perquisite of "rent free accommodation." The review petition and application for condonation were dismissed.