Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
Shares granted under Employees Stock Purchase Scheme (ESPS) had a lock-in period and could not be traded in the open market. The Fair Market Value (FMV) could not exceed the face value of INR 15 due to the restriction on marketability and tradeability. The Valuation Report by the employer for withholding tax purposes could not be considered for determining FMV. The quoted price or Valuation Report had no application for shares subject to lock-in and sale embargo. The value of stock purchase option exercised by the employee is reckoned at face value, not the market price difference from the cost paid to the employer. The High Court ruled in favor of the assessee, affirming that face value alone is conclusive for taxation purposes.
Shares granted under Employees Stock Purchase Scheme (ESPS) had a lock-in period and could not be traded in the open market. The Fair Market Value (FMV) could not exceed the face value of INR 15 due to the restriction on marketability and tradeability. The Valuation Report by the employer for withholding tax purposes could not be considered for determining FMV. The quoted price or Valuation Report had no application for shares subject to lock-in and sale embargo. The value of stock purchase option exercised by the employee is reckoned at face value, not the market price difference from the cost paid to the employer. The High Court ruled in favor of the assessee, affirming that face value alone is conclusive for taxation purposes.
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