On microsoft\'s site they claim that simple doctype declaration is enough. But even a document as short as this falls back to IE7 mode:
The meta tag doesn't do anything for intranet sites and my issue was IE10 rendering in IE10 compatibility mode. What tackled the issue for me was taking @Jeow's answer further and using that value in an http header by adding the following to web.config under IIS:
For IE purposes, intranet sites include public-facing sites that are not routed to externally - for example a Stackoverflow employee working from the office would probably see stackoverflow.com in compatibility mode.