Compromise-and-arrangement extensions may accommodate debt assignment where creditor commercial judgment supports value maximisation and avoids proced...
Delayed-payment surcharge is not taxable tolerance consideration where it penalises default, while meter testing follows electricity distribution trea...
Sufficient cause for delayed revenue income-tax appeals requires bona fides, due diligence and a credible explanation; otherwise limitation bars appea...
Inverted-duty-structure refunds remain available for unchanged-rate apparel supplies despite trader status and require tax-period-specific computation...
Foundational assessment satisfaction is essential before initiating penalty for cash receipt of immovable-property sale consideration under section 27...
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Voluntary compensation for diminution in the value of unexercised employee stock options following corporate restructuring is not taxable as a perquisite or salary where it is not contractually or statutorily required, is paid without exercise, allotment, transfer, surrender, cancellation or repurchase of the options, and the employee retains the options. The proximate cause is the restructuring rather than employment. Payer-side tax deduction or Form 16 classification cannot create a tax charge absent satisfaction of the charging provisions. The payment also cannot be treated as profits in lieu of salary merely through an alternative salary provision.
Voluntary compensation for diminution in the value of unexercised employee stock options following corporate restructuring is not taxable as a perquisite or salary where it is not contractually or statutorily required, is paid without exercise, allotment, transfer, surrender, cancellation or repurchase of the options, and the employee retains the options. The proximate cause is the restructuring rather than employment. Payer-side tax deduction or Form 16 classification cannot create a tax charge absent satisfaction of the charging provisions. The payment also cannot be treated as profits in lieu of salary merely through an alternative salary provision.
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