2012 (11) TMI 343

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....se out of the order of the ITAT dated 30/3/1999. (a)  Whether on the facts and circumstances of the case and in law, the Tribunal was justified in holding that tax borne by the employee is not part of the pay? (b)  Whether on the facts and circumstances of the case and in law the Tribunal was justified in holding that notional interest on interest free deposit made for accommodatio....

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....ssessee had returned income of Rs. 1.13 crores and paid tax there on the said income at Rs. 50.00 lakhs. Since the assessee had received Rs. 77.00 lakhs in India and the tax payable thereon was Rs. 35.00 lakhs which was to be reimbursed by the employer, the assessee had included Rs. 35.00 lakhs to the salary income of Rs. 77.00 lakhs and offered Rs. 113.00 lakhs (round figure) to tax. Though tax o....

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....35.00 lacs) which almost tallies with the income declared by the assessee. The Tribunal has further recorded that though the assessee had paid tax amounting to Rs. 50.00 lakhs, the assessee was entitled to reimbursement of tax amounting to Rs.35.00 lakhs and the balance Rs. 15.00 lakhs was borne out of the salary income received by the assessee in India. The Tribunal has recorded a finding that th....