Independent show-cause notices remain separate proceedings, while customs adjudication challenges should ordinarily follow the statutory appellate rem...
Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
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The compensation received by the petitioner for diminution in value of ESOPs is a perquisite taxable under the Income-tax Act, 1961, not a capital receipt. To determine the value of the perquisite, the benefit received by the employee from the specified security should be ascertained. Since no payment was made by the petitioner towards ESOPs and the ESOPs continue to be retained, the entire compensation received qualifies as a perquisite liable to be taxed under the head "salaries". The petitioner is not entitled to a 'nil' certificate of deduction of tax at source. Although the basis for the conclusion in the impugned order is flawed, the rejection of the request for a 'nil' certificate is affirmed.
The compensation received by the petitioner for diminution in value of ESOPs is a perquisite taxable under the Income-tax Act, 1961, not a capital receipt. To determine the value of the perquisite, the benefit received by the employee from the specified security should be ascertained. Since no payment was made by the petitioner towards ESOPs and the ESOPs continue to be retained, the entire compensation received qualifies as a perquisite liable to be taxed under the head "salaries". The petitioner is not entitled to a 'nil' certificate of deduction of tax at source. Although the basis for the conclusion in the impugned order is flawed, the rejection of the request for a 'nil' certificate is affirmed.
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